Gstar has signed a Memorandum of Understanding (MoU) with a Siraj Group-led consortium for a 2GW solar module manufacturing project.
Through the strategic partnership, Gstar will collaborate with the consortium led by Siraj Group, Galaxico and Stark Consulting, with construction on the solar module project expected to begin in November.
The Gstar Middle East expansion comes amid steady growth for the photovoltaic market, with demand potentially reaching 29-35GW by 2027, according to Infolink statistics.
The company said in a statement this week that the UAE’s position as a trade centre between Europe, Asia, and Africa and its role as the “logistics centre” of the Gulf region will provide the company with a strategic platform to expand into European and even North American markets.