PowerChina targets Africa for renewables-focused growth
China's state-owned Power Construction Corp (PowerChina) is aiming for significant growth in Africa, focusing on renewable energy projects as part of its overseas expansion strategy, a company executive said.
Chinese lending to African governments has fallen sharply from a 2016 peak of about $28-billion a year as Beijing grows more cautious about debt risk, but state-backed companies such as PowerChina are still pushing ahead with new projects, increasingly in renewable energy rather than coal.
Africa is PowerChina's second home, company executive Chen Guanfu said at a Bloomberg event on Tuesday, adding that it aims to establish operations in almost every African market within five years.
Chen said that Africa accounts for about 30% of PowerChina's overseas revenue, with the figure expected to rise to 40% to 45% by 2030. The company expects the growth to be driven by increased development of clean-energy plants, hydropower dams and gas-fired power stations.
In South Africa, PowerChina has renewable energy projects worth about $3.5-billion, including solar photovoltaic installations and the Redstone concentrated solar power project. The company has previously delivered projects such as Ethiopia's Adama wind farm.
Highlighting the Oya hybrid renewable energy project in South Africa, Chen described it as a pioneering effort to stabilise power from intermittent green sources. The project is in collaboration with partners including South Africa's Eskom.
Chen said the project is a pilot model not only for Africa but for PowerChina's more than 100 overseas markets.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
