Chinese PV manufacturer, ReneSola has announced the opening of a new office in Cape Town, South Africa.
The regional office will serve as the headquarters for ReneSola’s sales and marketing operations in Africa, which the company said it was looking to expand.
Qasim Abrahams, general manager of ReneSola South Africa, said the new office would serve as a gateway to markets in Ghana, Rwanda, Namibia and Kenya.
“South Africa has shown tremendous potential for utility-scale, commercial, and residential solar PV projects,” said Abrahams. “The solar PV market here has grown tremendously since 2010, sparked by the Renewable Energy Independent Power Producers Programme.”
“Increasing our share in markets with strong growth trajectories like South Africa is a core component of our business development strategy”, said Xianshou Li, founder and CEO of ReneSola. “Having on-the-ground sales and marketing support is key to increasing our customer base across the vast Africa market and will allow us to respond to customer requests with greater speed and flexibility as we deepen our understanding of local market conditions,” said Li.
South Africa has been singled out by analyst Frost & Sullivan, who predicting the cost of electricity from solar could fall as low as R0.74-1.26/kWh (US$0.075-US$0.127/kWh) by 2020, becoming cheaper than coal. South Africa also gained its first complete utility-scale solar park in November 2013.