REC plans solar debut in "numerous" African markets

REC Solar ASA (OSL:RECSOL) plans to set foot into numerous African markets this and next year, having in mind that 100 GW of solar capacity is expected to be installed on the continent by 2030.

The Norway-based solar equipment maker said in a statement on Thursday it plans to start by opening regional hubs in the Economic Community of West African States (ECOWAS), as well as in the eastern and southern African regions.

The company will be active on the residential photovoltaic (PV) markets, offering small-scale off-grid solar power generation systems and solar hybrid boxes for 20 kW-50 kW installations, it said. In addition, REC intends to establish a network of distributors as part of its partner programme and will also set up a training academy.

“We expect around 100 GW of solar panels to be installed in the region by 2030, with residential markets and turnkey solutions offering particularly good opportunities,” said Luc Grare, senior vice president for EMEA at REC.

Particularly in Ghana, REC expects between 75 MW and 100 MW of solar capacity to be installed in the utility segment alone next year, whilst 10 MW will be added in the commercial and 1 MW-2 MW in the residential segments, it noted.

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