AIKO and VEERS GROUP Join Forces to Drive South Africa’s Solar Revolution
August 27th, 2024
Cape Town, South Africa – August 26, 2024 – In a bold move to accelerate South Africa’s renewable energy transformation, AIKO, a top-ranked solar technology leader with BloombergNEF Tier 1 status, and VEERS GROUP, a Level 1 B-BBEE organization, have announced the formation of a groundbreaking joint venture. This partnership is set to revolutionize the utility-scale and distributed solar sectors across South Africa, combining cutting-edge technology with a strong emphasis on localization and local expertise to drive the nation’s energy transition.
The joint venture will focus on advancing both the utility-scale and distributed solar sectors across South Africa, while expanding its distribution footprint throughout the African continent. By leveraging AIKO’s industry-leading N-Type ABC solar modules—recognized as the world’s most efficient—this collaboration aims to significantly accelerate South Africa’s shift towards a low-carbon future. The venture will make these high-efficiency solar technologies widely accessible across utility-scale, commercial, industrial, and residential sectors.
The newly established Aiko Energy SA (Pty) Ltd will be the operational arm of this joint venture, underscoring a strong commitment to local content and empowerment. With Muneeb Gambeno appointed as Managing Director and Majdi Galvaan as Chief Financial Officer, the company is poised to make significant advancements in South Africa. AIKO is dedicated to aligning its operations with the principles of black economic empowerment and localization, ensuring that its business strategies are tailored to meet the unique needs of the local market. This partnership not only leverages VEERS GROUP‘s deep-rooted expertise in South Africa but also prioritizes community engagement and upliftment, reinforcing AIKO’s pledge to drive meaningful, sustainable growth in the region.
Meimei Yu, Head of MEA Sales at AIKO, commented:
“We are thrilled to partner with VEERS GROUP, whose deep local expertise perfectly complements our cutting-edge technology. By merging global innovation with local knowledge, we are confident this joint venture will not only accelerate South Africa’s energy transition but also serve as a model for sustainable growth worldwide. Together, we are committed to delivering the highest-efficiency solar solutions, making a lasting impact on South Africa’s renewable energy landscape.”
Hashveer Singh, CEO of VEERS GROUP, remarked:
“Innovation and sustainability have always been at the forefront of our organization. AIKO’s stellar reputation and aligned values make them the perfect partner for this journey. We look forward to bringing AIKO’s most efficient solar products to the South African market, providing utility projects with revolutionary efficiency upgrades. This partnership sets a new standard for performance and sustainability in the region, benefiting all stakeholders involved.”
About Veers Group
Veers Group is a proudly South African, black-owned, and operated company with an outstanding track record in the energy sector. The energy group has demonstrated its capabilities through active participation in private procurement, battery supply, and solar supply, continually expanding its operations. The group possesses expertise in servicing the renewable energy industry across all stages, from development to sustainability. Veers Group’s holistic approach ensures that every project not only meets industry standards but also contributes to the nation’s transition to renewable energy.
About AIKO
AIKO is an industry-leading solar manufacturer and BloombergNEF Tier 1 company, specializing in the research, development, and manufacturing of solar generation products and PV-storage-charging integrated solutions. AIKO provides customers with solar cells, ABC (All Back Contact) modules, and scenario-based packaged solutions. Guided by the mission of “Empowering transformation towards a carbon-free era,” AIKO continues to pursue extreme innovation and cutting-edge technology.
For more information, please visit https://aikosolar.com.
For media enquiries please contact:
Nicol Chaminama +27 71 267 4181 nicol@veersgroup.com
Aiko representative information