Yingli Enters Joint-Venture To Develop 150 MW Solar PV In Africa

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Yingli Enters Joint-Venture To Develop 150 MW Solar PV In Africa

September 22nd, 2015 by Smiti Mittal   One of the world’s leading solar module manufacturers and projects developers, Yingli Green Energy, has announced a joint venture aimed at the development of solar PV power plants in Africa. Yingli Green Energy Holdings announced earlier this month a partnership with Namene Energy International, a leading renewable energy projects developer in Africa, to work together to set up 100 MW of utility-scale and 50 MW of rooftop solar power projects in Ghana and other African countries. Yingli Green Energy and Namene Energy will each hold 50% equity stake in the joint venture. Namene Energy is already working on a utility-scale solar power plant in Ghana, with construction on the project expected to started in 2017. The companies shall tap banks and other financial institutions to set up the projects, while Yingli Europe will supply the modules for the projects. Africa is one of the fastest emerging solar power markets with several companies from the developing as well as developed world looking for investment opportunities. Egypt and South Africa are currently the most attractive markets, however other smaller economies are also attracting investments. Ghana, specifically, is taking significant regulatory measures to promote renewable energy. Earlier this year, the President of Ghana announced that the levy on petroleum products will be increased to $0.02 per litre. A part of the revenue raised from this levy will be used to establish the Renewable Energy Fund. Additionally, a levy of $0.02 will be charged on a per kWh basis on electricity transmitted. Revenue from this levy, too, will be used for supporting solar power projects. Earlier this year, IFC InfraVentures and Scatec Solar announced a joint venture to develop 33 MW solar PV project in Mali. Last year, Scatec Solar also joined hands with the Norwegian investment fund for developing countries (Norfund) to set up solar power projects in developing and least developed countries in Africa, Asia, and South America.    Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.   Tags: Africa solar power, Ghana Renewable Energy Act, Ghana Solar Power, Namene Energy International, Scatec Solar, Yingli Green Energy

CleanTechnica is the #1 cleantech-focused news & analysis site  in the world. Subscribe today! Smiti Mittal works as a senior solar engineer at Mott MacDonald, a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India. Namene’s project in Ghana will only start construction in 2017. What’s the big holdup? Red tape, grid connection – or is it vapourware? Construction on a 155 MW solar farm in Ghana was supposed to have begun towards the end of 2013. It doesn’t appear to have been started yet. At least the price would have come down in the meantime. I suppose since Ghana produces most of its electricity from hydro and is a natural gas producer it’s not as great a missed opportunity as in places that rely more on imported diesel. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by, and do not necessarily represent the views of Sustainable Enterprises Media, Inc., its owners, sponsors, affiliates, or subsidiaries. CleanTechnica is the #1 cleantech-focused website in the world, and part of the Important Media network of blogs working to make the world a better, greener place….
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On September 22, 2015
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