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 planning stage – views sub-Saharan Africa as 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.