Published on April 9th, 2014 | by James Ayre0
Hanergy Solar Developing 400 MW PV Plant In Ghana
Hanergy Solar is currently in the process of developing a 400 MW PV power plant in Northern Ghana, according to a recent press release.
The project is still in its early stages, but once completed will be one of the biggest thin-film solar energy projects in the world, and will represent Hanergy’s first large development in Africa. The project is estimated to cost around $1.1 billion to complete.
Savanna Solar — which Hanergy owns a 70% equity holding in — has already secured a 25-year power purchase agreement with Ghanaian authorities. And Savanna Pride — an investment holding company that Hanergy owns a 30% stake in — is currently working on the grid connection agreement, and also the transfer of land use rights, both expected to be completed in May.
Construction of the 400 MW project is currently slated to be completed in three distinct phases: 100 MW installed and operating in the first year, a second 100 MW installed and operating in the second year. And then a further 200 MW installed after that.
The project is intended — at least partially — as a demonstration of the thin-film technologies that the company has at its disposal.
Something else to note — the project isn’t completely financed yet, more funding still needs to be secured.
In related news, it appears that Hanergy is still moving forward with its plan to develop a US$500 million thin-film PV factory on the Ivory Coast — a project that would serve as a good complement to this new one.
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