Tenesol, a subsidiary of
), in collaboration with AE-AMD Renewable Energy has made
announcement for the construction of two South African
ground-mounted solar power projects near Douglas, South Africa in
the Northern Cape Province.
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The two projects, Herbert and Greefspan, with power generation
capacity of 33 megawatts ("MW") will be constructed by Tenesol.
These two ground-mounted solar systems will feature 138,000
Tenesol TE 240 photovoltaic solar panels on single-axis trackers.
Tenesol holds 5% share in the two projects. SunPower had acquired
Tenesol in January 2012.
Of the two projects, Tenesol has begun the construction of the
first 22 MW Herbert project, whereas construction for the 11 MW
Greefspan project will begin in the near term. Both the projects
are expected to be completed by the second quarter of 2014. The
projects are expected to generate local construction jobs while
delivering clean and reliable energy to the community.
AE-AMD Renewable Energy is a joint venture between the Spanish
AMDA energia and the South African Alt-E Technologies. Post
construction, both the projects will be owned by AE-AMD Renewable
Energy in partnership with the IDEAS Fund. IDEAS Fund is an
infrastructure fund managed by Old Mutual Investment Group of
South Africa. The electricity will be sold by the partnership to
Besides, designing and manufacturing solar panels and systems,
the company also has a successful track record of building solar
power plants around the world. Recently, in October, the company
announced the completion of a 13.78-megawatt ("DC") solar
photovoltaic ("PV") power system at Naval Air Weapons Station
China Lake in California. With the help of SunPower's Buy
American-compliant solar panels, the plant is generating the
equivalent of more than 30% of China Lake's annual energy load,
thereby reducing costs by an estimated $13 million over the next
However, SunPower Corporation is not the only solar power company
that is focusing on construction of solar projects that help in
generating clean energy. Recently in October, another leading
global provider of comprehensive photovoltaic (PV) solar systems
First Solar, Inc.
) was chosen by Dubai Electricity & Water Authority for the
construction of a solar PV power plant in Seih Al Dahal,
approximately 50 kilometers south of Dubai. First Solar will
provide engineering, procurement and construction services, as
well as its advanced thin-film PV modules. The plant will be able
to produce using both PV and solar thermal technology.
Based in San Jose, California, SunPower Corporation designs,
manufactures and delivers the highest efficiency, highest
reliability solar panels and systems available today.
Residential, business, government and utility customers rely on
the company's experience and guaranteed performance to provide
maximum return on investment throughout the life of the solar
SunPower Corporation is a vertically-integrated solar
manufacturer, with presence in the entire solar value chain from
cells through installation. Going forward, we are bullish on the
company due to its diversified channel strategy with a strong
presence in the residential and commercial market, along with its
status as a conversion efficiency leader. The company presently
retains a short-term Zacks #2 Rank (Buy). We have a long-term
Neutral recommendation on the stock.