EnerDynamic Hybrid Tech (TSXV: EHT) has entered into a new co-venture via its Windular subsidiary. The firm has partnered with Ikan Engineering in the Middle East on certain solar initiatives in the region as the firm works to expand its current offerings in the space.
The co-venture is to develop a new solar solution that is referred to as Solatel, which will look to place EnerDynamic’s solar arrays vertical on telecommunications towers. Pakistan alone has over 50,000 such towers within the country, with many located where traditional arrays cannot be installed due to space constraints or other concerns.
The systems are designed to be installed in high-traffic urban areas that have a high degree of visibility, where additional branding opportunities are available to complement the arrays.
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Perhaps most significantly, the venture has already entered into an agreement for the installation of the solar solution, with the firm announcing this morning that it will initially be working with Telenor ASA, one of the largest firms globally in the space, to install the systems. Installations are set to begin in the fourth quarter this year.
“[Mobile network operators] face a significant problem with traditional ground solar technology in urban sites due to the large real-estate footprint required to implement the solar panels. Our new Solatel system solves this problem by adding scalable light weight modular solar directly onto the towers therefore eliminating the required land for ground mount solar installations.”
Jerry Foster, President of EHT
The announcement comes just days after EnerDynamic revealed it has found yet another avenue of growth for its solar arrays – sustainable water solutions. The firm intends to assist in manufacturing such systems, which will feature the firms solar arrays on top as a means of reducing carbon footprints and improving the off-grid nature of the product.
EnerDynamic Hybrid Tech last traded at $0.59 on the TSX Venture.
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