Saturday, August 22, 2015

Hanergy Solar planning 400MW PV power plant in Ghana

Hanergy Solar said it was in the early stages of developing a 400MW PV power plant in the Northern Region of Ghana at an estimated cost of approximately US$1.1 billion.
The company said that Savanna Solar, in which Hanergy Solar has a 70% equity holding, had secured a 25 year power purchase agreement (PPA) with the relevant authority in Ghana in June 2013.
Hanergy Solar also noted that an investment holding company, Savanna Pride, which the thin-film firm had a 30% stake in, was also partnering on the project. The grid connection agreement as well as the transfer of land use rights from Savanna Pride were said to be pending, though such matters were expected to be completed in May 2014.
Hanergy Power Group was said to have been responsible for the investments in Savanna Solar and Savanna Pride.
The company said that the project would be one of the largest thin-film solar power projects in the world and the first large-scale project by Hanergy Solar in Africa.
The construction of the 400MW project is expected to be done in three phases with 100MW installed and operating in the first year, followed by a further 100MW in the second year. In the third phase, Hanergy Solar plans to install and operate a further 200MW.
Hanergy Solar also expects the project to act as a major demonstration of proof of the thin-film technologies it has developed and acquired.
Financing for the project has yet to be concluded.
News of the plant follows rumours Hanergy is planning to open a module plant in neighbouring Ivory Coast.

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