Placeholder story for staging. CASABLANCA, 21 September 2026 — Northbridge Solar Ltd. and Atlas Fabrication Holdings Plc said on Monday they had agreed to form an operating company to expand photovoltaic module assembly at a Maghreb industrial zone, in a phased project contingent on power-supply and permitting milestones. The venture, to be named Maghreb Module Works LLC, will be owned 60 percent by Northbridge and 40 percent by Atlas, according to a joint statement. Phase 1 capital expenditure was described as “in the range of $380 million to $450 million,” covering assembly lines, warehouse space, and quality labs. Later phases could lift total investment above $700 million if offtake and grid connections support higher volumes. “We are pairing Northbridge’s module process know-how with Atlas’s regional fabrication and logistics footprint, said Claire Fontaine, chief executive of Northbridge Solar. Commercial production for Phase 1 is targeted within 30 months of financial close, subject to permits. Regulatory steps include environmental review, local-content filings where required, and final power-connection agreements. Labor commitments were flagged without hard quotas, with local hiring and regional supplier contracts planned. Analysts noted similar assembly expansions can slip when medium-voltage supply or customs bonded-warehouse rules lag construction. Atlas trades on a regional exchange; its shares were little changed after the announcement. A fuller schedule is expected once concession and utility documents are signed.