Case Study on Expanding Valoe PLC PV Technology Business Into GCC Countries

Abstract

This thesis was completed for a Finnish technology company, Valoe PLC (Valoe Oyj in Finnish) specialising in solar technology. The commissioner is an international small-medium-sized enterprise, its operations take place in Mikkeli and Juva Finland, and Vilnius Lithuania. The goal of the thesis was to contribute to the understanding of a new potential international market, in this case, the Gulf Cooperation Countries of the Arab States, and analyse the challenges and the financial potential of expanding. The main theoretical concepts covered in this thesis are related to the marketing environment of the GCC region, with the focus on external environment analysis with the political, economic, socio-cultural, technological, legal, and environmental framework and market analysis. The data collection was conducted in two phases. In the first stage, the research began with archival data. A close examination presented repeated patterns and themes, implemented in the second phase of the study. The second phase of the study was conducted as semi-structured interviews, providing primary data for the research. Individuals, organisations, and consultants involved actively in the solar power industry in Finland and GCC region were interviewed. The result of the research process provided evidence that most of the discussion participants see potential in the pitched business idea. There is a clear need for such products in the GCC market, mainly driven by government initiatives and the rapidly growing population. The main conclusions signify that there is a high interest in solar technology and solar power in the region, which can provide opportunities in other markets, such as the automotive field within the area. Solar energy is likely to contribute to the diversification of fuel-based transport within the GCC through the electrification of private-public and industrial vehicle fleets utilising clean power sources.