Israel’s SolarEdge to Work With Saudi Company in Rare Pact

SolarEdge Technologies Inc., an S&P 500 company based in Israel, is forming a joint venture with a Saudi Arabian firm to develop renewable energy, in a rare business collaboration between two countries that don’t formally recognize each other.

The venture between SolarEdge and Ajlan & Bros Holding, a conglomerate, will be established in Riyadh, the Saudi capital, and deploy solar technology in the kingdom, according to a statement from the Israeli company on Monday. Israeli companies have been quietly doing business in Saudi Arabia for years.