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In a pioneering move to accelerate the renewable energy transformation in South Africa, AIKO Energy, a global leader in new energy technology, and VEERS GROUP, a Level 1 B- BBEE organisation, have announced the formation of a groundbreaking joint venture. This collaboration is poised to revolutionize both the utility-scale and distribution solar sectors in South Africa, bringing together unparalleled technology and with a strong focus on localization and building local expertise to drive the nation’s energy transition.
Powering South Africa’s Energy Future: A Shared Vision
The joint venture will focus on developing both the utility-scale and distribution solar sectors across South Africa and growing its distribution footprint across South Africa and the African continent whilst utilizing AIKO Energy’s industry- leading N-Type ABC solar modules.
Acknowledged by experts as being the most efficient solar modules in the world, AIKO modules will be distributed through the newly formed joint venture, allowing both companies to share customer resources and leverage their combined strengths. This strategic collaboration aims to significantly accelerate South Africa’s shift towards a low-carbon future by making the highest efficiency solar technology widely accessible to utility-scale, commercial and industrial and residential solar sectors.
Aiko Energy SA (Pty) Ltd, the newly formed joint venture between Aiko and Veers Group, is proud to announce its strong commitment to local content and empowerment. With Muneeb Gambeno stepping in as Managing Director and Majdi Galvaan as Chief Financial Officer, the company is set to make significant strides in South Africa. Aiko Energy is dedicated to aligning its operations with the principles of black economic empowerment and localisation, ensuring that its business practices and strategies are finely tuned to the unique needs and opportunities of the local market. This partnership not only leverages Veers Group’s extensive expertise in South Africa but also prioritises the engagement and upliftment of local communities, reinforcing Aiko’s pledge to drive meaningful, sustainable growth within the region.
