Yingli, Namene to jointly develop 150 MW of PV in West Africa

China’s Yingli Green Energy Holding Co Ltd (NYSE:YGE) has set up a 50/50 joint venture with Namene Energy International Ltd to develop up to 150 MW of solar projects in West Africa, the two announced today.

The new Ghana-based firm, called Yingli Namene West Africa Ltd, will seek to develop a total of 100 MW of utility-scale solar projects and up to 50 MW of commercial rooftop schemes in Ghana and its neighbouring countries over the coming years. It has already initiated development of its first utility-scale projects and expects them to enter the construction phase in 2017.

Once all application procedures are concluded, the JV will look to arrange construction financing from banks and other financial institutions. Yingli will act as the preferred solar panel supplier for the projects.

"By joining forces we can consolidate our downstream pipeline well into 2017 and beyond," said Ralph Schneider, head of commercial at Yingli Green Energy Europe GmbH. In turn, Yingli’s chairman and CEO Liansheng Miao commented that this is the company’s first investment in West African renewable energy projects.

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