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Al Homsi Group BVI signs framework agreement on the acquisition of a production line in Cyprus

2020-01-13

Al Homsi Group BVI (AHG BVI) | Enterprise Design & Engineering Contracting Services Group has signed a framework agreement with Swedish Absolicon to acquire a production line for the solar collector T160 in Cyprus. The total sales value covered by the agreement is estimated at € 4-5 million, additional € 4 million investment for the raw material, a monthly license fee of 4% and sales of components.

Absolicon’s production lines for concentrating solar collectors can change the energy supply for individual industries and entire cities. The Eastern Mediterranean is an unstable region but with good solar irradiation and high growth potential. The engineering company AHG BVI and Absolicon have now signed a framework agreement on the acquisition of a production line for establishment in Cyprus to supply the region with high end solar thermal panels.
AHG BVI has presented a plan where the company primarily sells concentrating solar collectors to industries, cities and commercial buildings using its own resources. The company already works with several large international companies in the region and has a regional contact network aimed at large hospitality and telecom companies.
Delivery time
The first pilot installations of the T160 from Al Homsi are expected during the second half of 2020. Solar collectors for these installations will be delivered from Sweden. The production line is expected to be sent from Sweden during the second half of 2021.
Read full press release >>
Absolicon is a listed Swedish solar energy company, specializing in concentrated solar heating. The solar collector T160 operates up to 160 ° C and has the highest optical efficiency ever measured for a commercially available small parabolic trough.
After achieving ground breaking performance and delivering a first production line to the Chinese province of Sichuan, Absolicon has built a robotized production line in Sweden for demonstration for interested customers and for own production of solar collectors.
AHG BVI. Enterprise Design & Engineering Contracting Services Group: are a business group leader in the Levant Area, Creating a wide commitment to total quality and professional Engineering Services & High Performance Buildings Solutions. We focus on Eco-Construction Techniques for Building Project types (Sustainable Building Technical Turnkey Services) & Sustainable Renewable Energy and Energy Efficiency (REEE) Development Planning and Design. We also focus on Critical Infrastructure Security Protection & Telecom Smart Systems for Operator Towers and Buildings by using the right design method and integrated technical smart solutions.
AHG BVI are targeting to establish a Swiss Capital JV Consortium with asset capital of 1 Billion Swiss Francs listed in Swiss stock exchange to build and asset management many vertical green buildings and communities villages in the Levant Area that are environmentally responsible and energy resource-efficient throughout a building’s life-cycle: from planning to design, construction, operation, maintenance, renovation, and demolition.
For more information:
Bashar Al HOMSI Founder / CEO of Al Homsi Group BVI
E-mail: bashar@alhomsigroup.com
Phone: 0944-339080

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