South African deals offer lifeline to Chinese solar panel makers

Posted at December 13, 2012 » By : » Categories : News » Comments Off on South African deals offer lifeline to Chinese solar panel makers

Suntech, one of China’s largest producers of solar panels, is to supply 100 MW of its photovoltaic modules for two projects in South Africa.

The news comes as Suntech’s latest earnings report reveals troubling times. Because of a complicated fraud case, the company is having to restate its 2010 results and this year’s results are well down on previous years.

The deal, which is for Suntech’s V series modules, is with Mainstream Renewable Power for two sites in the Northern Cape of South Africa being built by Siemens.

When operation in mid-2014, the solar farms will generate 180 GWh of electricity, enough to power 15,000 homes and offset approximately 180,000 tons of carbon emissions a year.

The solar developments are some of the first to be granted licenses under South Africa’s Renewable Energy Independent Power Purchase Agreement, which aims to see 1.45 GW of solar power by 2014 and 8.2 GW by 2030.

In another deal, rival Chinese firm Hanwha SolarOne has secured an agreement with Cobra, Gransolar and Kensani for 155 MW of solar modules.

The solar modules will be used in the Letsatsi and Lesedi projects.

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