Shoals Technologies (SHLS) announced the execution of a memorandum of understanding with UGT Renewables to collaborate on up to 12 gigawatts of global solar projects currently in UGT Renewables’ development pipeline. This collaboration aims to bring EBOS solutions to emerging markets, accelerating the energy transition and supporting sustainable development. In the Southern Provinces of Angola, Shoals and UGT Renewables’ sister company, Sun Africa, have aligned to execute on the first two energy diversification projects with a combined capacity of 600 MW of Solar PV planned to begin deployment later this year. These first projects, financed by EXIM Bank in the United States, are expected to break ground in 2025 and will play a role in electrifying 60% of the Angolan population, providing clean water to over 1.1M people.
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