Yingli to Build $435 Million Solar Plant in South Africa

By Dr. Cameron ChaiNov 18 2010

South Africa is giving clean technology a boost by signing up with Yingli Solar to build a $435 million manufacturing plant with a local partner.

The Chinese company is due to gain 10% of the share of US Solar Modules market by volume by the end of this year as per forecasts.

The Director General of the South African Department of Energy, Nelisiwe Magubane confirmed the deal to Reuters. The local company and Yingli Solar will begin building the manufacturing plant with the next 12 months.

The deal has been signed during the visit of the Chinese Vice President Xi Jinping to South Africa. Nelisiwe Magubane also signed an agreement with the Vice President of China between his nation and the China Development Bank on broad ranging energy cooperation.

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