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Lightway Solar and RKM Group Signed MOU

Number of visits: Date:2019-7-19 17:09

Baoding Lightway Green Energy Technology Co., Ltd(“Lightway Solar”) today announced it has signed MOU to establish joint venture in Dubai to develop solar projects in UAE and other GCC countries.

Face to Face meeting

On 15th-16th July, Mr. Ali Alsayegh, CEO of RKM Group and other RKM top management visited Lightway parent company LONGJITAIHE Group, Lightway production line, rooftop power plant on BaiGou HEDAO International Suitcase and Bag City and QuYang power plant on mountain.

Mr. WeiQiang, President of LONGJITAIHE Group; Miss Candy You, Deputy General Manager of Lightway; Mr. Henry Liu, General Manager of Lightway International Sales joined the reception of RKM Group. The two sides held fruitful talks, including the early, medium and long term development planning and the register details of joint venture. Both sides agreed that the cooperation will be timely, complementary and promising.

Signing Ceremony

Mr. Wei Qiang, President of LONGJITAIHE Group (third from left)

Mr. Ali Alsayegh, CEO of RKM Group (second from left)

Miss Candy You, Deputy General Manager of Lightway Company (fourth from left)

Mr. Henry Liu, General Manager of Lightway International Sales Department (fifth from left)

Under the joint witness of the senior executives of both sides, the MOU signing ceremony was successfully held. After signing the MOU, the two sides will accelerate the registration and establishment of the joint venture, and choose the right project site to carry out the first solar energy pilot project.

According to the MOU details, joint venture will be registered in Dubai, both parties will contribute capital and assume limited liability in accordance with the agreed ratio. The main business of the joint venture company includes solar power plant development, design, construction, project bidding, equipment production and import and export trade, etc.

"Dubai is in the best opportunity to develop solar energy projects. We are very glad to establish a joint venture with RKM group to participate in solar energy projects in Dubai and other GCC countries. This is a new business of RKM group; at the same time, it is also our company's expansion of the existing business model which from simple product sales to actively explore the projects development in overseas countries. Since the great change of the China market in the second half of 2018, our company has actively adjusted the company strategy and increased the investment of overseas market. In the first half of 2019, our overseas market sales volume has accounted for 56% of the overall shipment volume, and it is expected to continue to increase in the second half. With the strong support of parent company-LONGJITAIHE Group, that will be a successful cooperation between Lightway and RKM Group. " said Mr. Liu Tao, General Manager of Lightway International Sales.

Mr. Ali Alsayegh, CEO of RKM Group added, “We are very pleased to visit Lightway and sign a MOU to establish a joint venture in Dubai, the two sides have been discussing and implementing this cooperation over the past few months. We have visited power plant on shopping mall rooftop, power plant on the mountain which are also suitable to Dubai. We have many malls and warehouse where the rooftop could be used for solar projects, such solar projects will bring benefit to both parties. We are very confident to Lightway parent company and technical, products strength of Lightway factory, we also believe that will be a successful and win-win cooperation.”

About RKM Group

Established in 1985, RKM Group consists of RKM Trading and RKM Real Estate LLC. The principal activity of the Group is property investments, developments and rentals. The Group has over 42 properties (approx. 1,500 units) comprising of villas, warehouses, office and residential units. These properties are spread over different strategic locations in UAE, having Head Office in Dubai, UAE. The Group has completed many landmark projects in Dubai of which Latifa Tower is unique being the only freehold property on Trade Centre First in Dubai.

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About Lightway Solar 

Lightway Solar is a 10year manufacturer of photovoltaic modules. Founded in 2008 with vertically integrated production line from Ingot Casting, Wafer Slicing, Cell Printing and Module assemble. With 10years know-how and experience, Lightway keep the pace of technology innovation and upgrade its production line to meet the higher demands of developers and end users. Lightway business scope have been covered China, Japan, Australia, India, Europe, Mexico, etc, with providing service and supports to our strong partners. These partners are the driving force behind the continued supply of high quality and reliable output solar panels for the worldwide.

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