Phanes Group targets 500 MW of solar installs in 2 years

Solar panels. Featured Image: pornvit_v/Shutterstock.com

February 15 (SeeNews) - Dubai-headquartered solar developer Phanes Group expects to install 500 MW of solar power capacity over the next two years, it said on Sunday.

The company said that its pipeline includes projects in the UK, the Dominican Republic, the UAE, Chile and South Africa. There are both distributed and ground mounted solar photovoltaic (PV) schemes among them.

These plans follow General Energy Solutions' (GES) acquisition of a 30% stake in Phanes last October. GES is a unit of Taiwanese firm Neo Solar Power Corp (TPE:3576), or NSP.

Phanes is currently involved in the 34-MW Monte Plata solar project in the Dominican Republic and expects to begin work on its Phase II in April 2016. Upon completion, it will have a total capacity of 67 MW.

Overall, Phanes has more than 70 MW of PV installed in geographies around the world.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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