ET Energy announces that it has founded a South African subsidiary, ET Solutions South Africa Pty Ltd. The new subsidiary will provide Engineering, Procurement and Construction (EPC) as well as Operations & Maintenance (O&M) for large-scale solar power plants.
ET Energy has secured a 130MW package of projects under the fourth round of bidding in the country's successful Renewable Energy Independent Power Producer Procurement Program (REIPPPP) by a South African based investor. Construction is expected to start at the end of the third quarter of this year. The company has targets for completion of an additional 300MW of EPC services in South Africa and other Sub-Saharan markets within the next two years.
Dennis She, ET Energy's President and CEO, said, "ET Energy's new subsidiary in South Africa demonstrates our confidence in the vast opportunities in this region. Africa has abundant sunshine, yet an estimated 600 million people lack proper access to electricity. However, now that PV prices are competitive with fossil fuel prices, even without subsidies, Africa can become power-independent using its own resources. We are proud to help this marvelous continent use its own clean, renewable energy without environmental side effects."
Kobus Ackermann, ET Energy's Regional Director in South Africa, commented, "Our new subsidiary will be the operational headquarters for our work in all Sub-Saharan countries. It will oversee our local operations and coordinate the execution of all projects in Sub-Saharan Africa, as well as developing business opportunities for future projects."