Greencells has concluded a strategic investment with OMAS. As part of the investment, OMAS has aquired a 50% share in Greencells.
"This transaction is an inflection point for Greencells. In Zahid Group and OMAS, we have found a highly reputable and strong partner, whose strategic vision and values align well with ours," said Greencells CEO Andreas Hoffmann. "With a solid financial base, we can further strengthen our global footprint, serving more customers with our hallmarks of flexible, modular services, a high-quality product and lean operations to respond quickly in a competitive market. In close collaboration with our new partner Zahid Group and OMAS, we will continue in our mission to make utility-scale solar the world´s cheapest and most scalable power source."
"Zahid has an extensive history as a leading provider of power solutions in the Middle-East and Africa, through the various energy-related companies under our Group. Solar energy is the ideal complement to our conventional power solutions. We have been actively seeking companies to partner with that would fulfill our bold ambitions in the renewables sector, which will be the key future growth driver for power globally. We are pleased to have found a capabale management team in Greencells, with an impressive global track record, and look forward to jointly realizing growth and success in this burgeoning industry." said Majd T. Zahid, Group President (Energy) at Zahid Group.