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Solar solutions company Hanergy Solar's subsidiary has acquired 70 per cent equity in Ghanaian company Savanna Solar to develop a 400 MW solar photovoltaic (PV) project in northern Ghana at an estimated cost of US$1.1bn
According to Hanergy, Savanna Solar holds a 25-year power purchase agreement (PPA) with Ghanaian authorities for the full output of the project. Savanna Solar plans to build the plant in three phases, with 100 MW in the first year, 100 MW in the second year and 200 MW in the third year
The company added that modules used by the project will be built using thin-film PV manufacturing equipment. High temperatures in Ghana will favour thin-film PV, and this will support the demand of the thin-film PV supply chain, added Hanergy.
The firm currently produces equipment to manufacture amorphous silicon thin-film PV, but has recently placed orders for the production of copper indium gallium diselenide (CIGS) PV equipment, based on technology it acquired from MiaSolé and Solibro, it added.
Industry sources have stated that Hanergy will provide an initial US$200,000, while Savanna Pride, the parent company of Savanna Solar, will contribute an additional US$86,000. However, no agreement has been reached on total investment in the project.