Chinese solar panel makers tap into Africa
Updated: 2013-06-12 20:03
NANCHANG - Chinese solar panel makers may bulk up in Afria after China finishes building one of the biggest solar power stations on the continent.
Chinese solar panel makers will supply most of the $140 million needed to build a solar power station in Garissa, Kenya, according to state-owned China Jiangxi Corporation for International Economic and Technical Cooperation, the deal's coordinator.
The coordinating company said Wednesday that the project will serve as the base for China's biggest solar panel makers to expand their presence in Africa.
The solar power station can generate 76 million kilowatt hours of electricity annually and provide power for about 350,000 people, or half of Garissa's population.
The deal was inked as the European Union slapped anti-dumping tariffs on solar panels made in China.
Chinese solar companies, mired in debt and overcapacity, are in great need to find alternative markets, as their biggest importer will probably buy less due to the duties.