ET Energy prepares for more solar contracts in S Africa
Solar panels. Featured Image: D and D Photo Sudbury/Shutterstock.com
Clean energy developer ET Energy said Tuesday it has established a subsidiary in South Africa, which will handle all of its operations across Sub-Saharan countries.
The move comes not long after the company won 130 MW of contracts from an unnamed domestic investor for projects from the fourth round of bidding in the country's Renewable Energy Independent Power Producer Procurement Program (REIPPPP). The firm expects to initiate construction in the third quarter of 2016, according to the press statement.
The new entity, dubbed ET Solutions South Africa Pty Ltd, will provide engineering, procurement and construction (EPC) and operations and maintenance (O&M) for large-scale photovoltaic (PV) power plants. Apart from the 130-MW portfolio it has already been contracted for, the company will aim to execute 300 MW of additional EPC jobs across South Africa and other Sub-Saharan markets within two years.
South Africa intends to boost the share of renewables in its power mix to 42% by 2030. “Now that PV prices are competitive with fossil fuel prices, even without subsidies, Africa can become power-independent using its own resources,” ET Energy president and CEO, Dennis She, said.