Phanes eyes Africa for new solar power projects
Dubai-based solar energy developer, investment manager and asset manager, Phanes Group, has announced the launch of an office in Johannesburg, South Africa, its first African office
Dubai-based solar energy developer, investment manager and asset manager, Phanes Group, has announced the launch of an office in Johannesburg, South Africa, its first African office.
The company said in a statement that the office will act as a hub for the firm's activities both in South Africa and across Sub-Saharan Africa.
Currently, Phanes Group's pipeline on the African continent exceeds 650 megawatts, including a 150-megawatt project under development in South Africa.
The development follows Phanes Group's distributed solar specialist Green Energy Tomorrow recently signing an agreement with DP World to deliver the largest rooftop solar project in the Middle East. Earlier this year, Phanes Group also delivered phase one of the 34-megawatt Monte Plata solar array -the largest solar energy plant in the Caribbean.
"Sub-Saharan Africa is a key corridor of growth for solar, and a strategic focus for Phanes Group as we look to further capitalize on economies of scale and solar power's increasingly important role in economic development on the African continent," said Martin Haupts, CEO of Phanes Group.
He said that from its new Johannesburg home base, Phanes intends to target Zimbabwe and Mozambique in a first step and has subsequently a firm eye on Tanzania, Kenya and Nigeria.
According to the International Renewable Energy Agency's (IRENA) Renewable Scenario for Africa, the total share of renewables in Africa can increase to 50 percent by 2030, and nearly 75 percent by 2050. Currently, 6.4 GW of projects are underway, including solar arrays in Botswana, Namibia, Sudan and Tunisia.