Petra Solar, Enviromena partner to develop solar, smart grid projects in Middle East, North Africa

Tracy McDonald

ABU DHABI, United Arab Emirates , January 16, 2012 (press release) – Petra Solar and Enviromena Power Systems today announced an alliance agreement that enables the two market leaders to join forces to develop solar and smart grid projects in the Middle East and North Africa (MENA). Combining Petra Solar’s innovative smart energy technology with Enviromena’s expertise in development of renewable energy projects in MENA will advance the growth of solar and smart grid in the region. The partnership further demonstrates Petra Solar’s ongoing commitment to expanding its business internationally, and developing the solar and smart grid market in the Middle East.

“Enviromena has an impressive list of completed projects including the Masdar 10MW Power Plant and has the largest installed capacity of any solar developer in the Middle East and North Africa.”

“The increasing demand for solar energy and grid reliability provides a tremendous opportunity for Petra Solar throughout the Middle East and the world. Collaborating with Enviromena, the leading developer of solar projects in the Middle East and North Africa, will facilitate the international expansion of our products and business development in the region,” said Dr. Shihab Kuran, President and CEO of Petra Solar. “Enviromena has an impressive list of completed projects including the Masdar 10MW Power Plant and has the largest installed capacity of any solar developer in the Middle East and North Africa.”

Petra Solar is the pioneer and market leader of distributed Smart Solar, an innovative approach that couples solar with smart grid technology to generate clean, safe renewable energy while making the electric infrastructure more stable, efficient and energy independent. The robust platform is scalable to future smart grid applications, including energy efficiency, energy conservation and smart microgrids. This approach builds large scale solar in a reliable fashion that avoids future costs of rebuilding the grid.

"Petra Solar's unique technology greatly expands our portfolio of photovoltaic solutions available to the MENA region," said Sami Khoreibi, CEO of Enviromena. "We see a large market here for distributed solar applications, particularly where smart grid initiatives are taking place."

Petra Solar will be a participant in the Project Village during the 2012 World Future Energy Summit in Abu Dhabi, January 16th – 19th. The company will be showcasing their 40 MW project with Public Service Electric & Gas of New Jersey, the world’s largest distributed solar project.

About Petra Solar:

Petra Solar, founded in 2006 by CEO and President Dr. Kuran, has pioneered new technology that combines distributed solar energy generation with smart grid communications and improved grid reliability features to create a utility grade solution that delivers the highest economic value for solar power. Petra Solar’s innovative SunWave™ system provides distributed clean energy that ties directly into the electric grid, and does not require an upgrade to either the current transmission or distribution infrastructure, eliminating grid interconnection issues faced by traditional solar systems. One of the key advantages of the Petra Solar solution is its flexible grid integration architecture that enables installation on existing assets that can hold one or more solar modules such as utility and streetlight poles, rooftops, and other available structures. In addition, the SunWave distributed solar and smart grid technology prevents instabilities caused by intermittent renewable energy sources, which enables utilities to maintain high power quality for electric customers as solar deployment growth accelerates. Petra Solar's success is the culmination of more than 19 years of research and development.

About Enviromena

Enviromena Power Systems is the leading developer of solar projects in the Middle East and North Africa (MENA). Our highly experienced team finances, designs, installs and operates solar power plants. Enviromena Power Systems is headquartered in Abu Dhabi, capital of the United Arab Emirates. We have built the region's leading team of solar engineers and project managers with over 50 years of photovoltaic design and project implementation experience.

Enviromena has attracted a broad base of local and international investors, including some of the world's leading venture capital firms.

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