South African solar photovoltaic (PV) installation company, Mettle Solar, has recently acquired a 50% stake in engineering, procurement and construction (EPC) firm, Sustainable Power Solutions (SPS). The price has not yet been revealed, Engineering News reported on Monday.
This development comes as the result of a strong industry working-relationship between the two firms, which according to Mettle Solar MD François van Themaat, SPS has designed and installed a number of Mettle Solar’s major grid-connected PV contracts.
Van Themaat said: “This closer relationship with SPS will allow Mettle Solar to roll-out rooftop solar projects more efficiently and at very competitive prices.”
[quote]SPS was the EPC contractor for 1.1MWp (megawatt peak) grid-tied solar PV system at Cape Town’s iconic V&A Waterfront.
The first phase has already started to generate 900kW and the full system is expected to reach completion in early 2016.
According to MEC Alan Winde, this project highlights the focus on the Western Cape’s green economy and renewable power industry, as well as the competitive advantages that the region has to offer potential investors.
“In the Western Cape, we have set ourselves the goal of becoming the greenest region in South Africa. Securing reliable, affordable energy is a key focus area for the Western Cape Government.
“In fact, it is one of our game-changers and is being driven by a special unit in the Premier’s office. At municipal level, we’re looking at including solar PV as part of the energy mix,” Winde said at the time of the project’s inauguration.
“Having a company such as Mettle Solar on board will strengthen our ability to harness the many opportunities in the area of solar power generation at a time when conventional generation is becoming increasingly costlier,” said SPS CEO Axel Scholle.
According to media, Scholle predicts that solar power will change the dynamics of the electricity generation and distribution industry across Africa within the next 10-years.