China-based solar energy firm Yingli Green Energy Holding has entered into a joint venture with Namene Energy International, a developer of renewable energy solutions to develop a total of 100MW of utility-scale solar projects and up to 50MW of commercial rooftop projects in Ghana and neighbouring countries.

With its utility-scale projects already in progress, the new joint venture Yingli Namene West Africa Limited will be based in Accra, Ghana.

Under the terms of the agreement, the shareholders will fund the application procedures during project development.

In addition, the new venture will explore other financial solutions including those from banks and other financial institutions to support the project construction.

On completion, both the companies will hold a market share of 50% in the new venture. Additionally, Yingli Europe will supply solar panel required for the new joint venture.

Construction of the proposed joint venture is expected to commence in 2017.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Yingli Green Energy chairman and CEO Liansheng Miao said: “Today’s announcement marks Yingli’s first investment in West African renewable energy projects as well as the continued expansion of our global downstream business.

“We are pleased to partner with Namene, and believe that our JV is positioned to quickly execute and become successful in this market.”

Namene Energy International CEO Patrick Lagrange said: “As one of the world’s leading solar panel manufacturers, Yingli has the right industry capabilities, brand and expertise to understand our local business requirements.”