Trina Solar Signs Two Major Deals in A Row! Will South Africa Be The World's Best Photovoltaic Market This Year?

Following a report released by Bloomberg Finance LP (BNEF) on March 5, the news that "South Africa is expected to become the world's 10th largest PV market in 2024, and the country's dominance of solar photovoltaic (PV) will continue to grow" has swept the web. Subsequently, Trina Solar's signing of two key South African renewable energy projects totaling 330MW seems to confirm this view.

TrinaSolar Co., Ltd. announced on Tuesday that it has signed a partnership with SOLA and WBHO. The partnership with South African solar project developer Sola Group and construction and engineering group Wilson Bayly Holmes - Ovcon Ltd ( JSE:WBO ) comes shortly after the trio reached an agreement on the 135 MW Merak 1 project, which it plans to roll out in South Africa with the 195 MW Springbok Solar Project.

(Image source: Trina Solar)

It is reported that both projects have far-reaching significance and impact on the local renewable energy construction and development.

The Merak 1 project has a total installed capacity of 135MW, and the modules all adopt Trina Solar's Vertex bifacial 670W series. Upon completion, the project will provide one of the most important mining companies in South Africa with the power it needs for its operations, realizing the application of highly efficient and clean renewable energy in the field of heavy industry.

The Springbok Solar project will feature 331,200 Trina Solar Vertex N-type panels. This is South Africa's “First and largest privately developed N-Type utility-scale project” and once operational, the solar power plant is expected to serve multiple off-takers.

In recent years, South Africa has been accelerating its energy transition program, looking to move away from its reliance on fossil fuels such as coal and power and toward cleaner energy sources. According to BNEF, South Africa is expected to have an installed capacity of 4 GW to 4.5 GW in 2024, and the cumulative installed capacity will reach about 36 GW by 2030.

Meanwhile, South Africa's National Power Corporation (Eskom) has said that rooftop solar installations in South Africa will grow further in 2024, especially in May, June and July, when power load shedding will be more frequent and severe.

With the government and leading companies very optimistic about the South African market, it is believed that South Africa will be among the top 10 PV markets in the world in the near future.

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