A Phanes project in the Caribbean
Solar energy company Phanes Group, of the United Arab Emirates, reports that its African project pipeline currently exceeds 650 MW, including a 150 MW project under development in South Africa, where it recently opened a regional office.
The Johannesburg office is the Dubai-headquartered firm’s first on the continent and will act as a hub for its activities in both South Africa and sub-Saharan Africa.
CEO Martin Haupts says the solar energy developer, investment manager and asset manager – which has 70 MW in operation in emerging markets globally and a further 1 000 MW under development or at a planning stage – views sub-Saharan Africa is a “key corridor of growth for solar”.
Besides South Africa, he says Phanes intends initially targeting opportunities in Zimbabwe and Mozambique and subsequently those in Tanzania, Kenya and Nigeria.
The Johannesburg office will comprise a five-member team qualified in engineering, economics and finance with experience in delivering more than 70 projects in 14 African markets.
“Our new Johannesburg-based team brings a wealth of experience that I believe will reinforce our African commitment and positively impact our pipeline over the next few years,” Haupts states.