In a pioneering move to accelerate the renewable-energy transformation in South Africa, AIKO Energy, a global leader in new energy technology, and VEERS GROUP, a Level 1 B-BBEE organisation, have announced the formation of a groundbreaking joint venture. This collaboration is poised to revolutionize both the utility-scale and distribution solar sectors in South Africa, bringing together unparalleled technology with a strong focus on localization and building local expertise to drive the nation’s energy transition.

Powering South Africa’s Energy Future: A Shared Vision

The joint venture will focus on developing both the utility-scale and distribution solar sectors across South Africa and growing its distribution footprint across South Africa and the African continent whilst utilizing AIKO Energy’s industry-leading N-Type ABC solar modules.

Acknowledged by experts as being the most efficient solar modules in the world, AIKO modules will be distributed through the newly formed joint venture, allowing both companies to share customer resources and leverage their combined strengths. This strategic collaboration aims to significantly accelerate South Africa’s shift towards a low-carbon future by making the highest efficiency solar technology widely accessible to utility-scale, commercial and industrial and residential solar sectors.

Aiko Energy SA (Pty) Ltd, the newly formed joint venture between Aiko and Veers Group, is proud to announce its strong commitment to local content and empowerment. With Muneeb Gambeno stepping in as Managing Director and Majdi Galvaan as Chief Financial Officer, the company is set to make significant strides in South Africa. Aiko Energy is dedicated to aligning its operations with the principles of black economic empowerment and localisation, ensuring that its business practices and strategies are finely tuned to the unique needs and opportunities of the local market. This partnership not only leverages Veers Group's extensive expertise in South Africa but also prioritises the engagement and upliftment of local communities, reinforcing Aiko's pledge to drive meaningful, sustainable growth within the region.

Meimei Yu President of MEA Sales Aiko Solar commented:

“We are delighted to partner with VEERS GROUP, whose deep local expertise perfectly complements our cutting-edge technology. By combining global innovation with local knowledge, we are confident that 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 that will make a lasting impact on South Africa’s renewable-energy landscape.”

Hashveer Singh, CEO of Veers Group, remarked:

"Our organisation has always prioritised innovation and sustainability. Given AIKO’s stellar reputation and aligned values, we look forward to an exciting journey that will be beneficial for all stakeholders. Leveraging our extensive local experience and resources, we are excited to bring AIKO’s most efficient solar products to the South African market. This partnership will provide utility projects with revolutionary efficiency upgrades, setting a new standard for performance and sustainability in the region.”

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 Energy

With over 120 GW of solar cell output, Aiko Energy is a leading energy company specializing in the R&D and manufacturing of solar generation products and PV-Storage-Charging integrated solutions. Aiko provides customers with high-efficiency solar cells, ABC modules, and scenario-based packaged solutions. Driven by the mission of “empowering transformation towards a carbon-free era” Aiko continues to pursue extreme innovation and cutting-edge technology.

For media enquiries please contact:

Nicol Chaminama +27 71 267 4181 nicol@veersgroup.com

Aiko representative information:  wangyanan@aikosolar.com