Although reports show China strengthening its presence in Africa, a quantified figure had not been released until now. The Asian powerhouse is planning to build solar power projects in 40 African countries, hoping to open a new market for Chinese manufacturers, according to Sun Guangbin, the secretary-general of photovoltaic products at the China Chamber of Commerce for Import & Export of Machinery and Electronic Products.
China invested $10 billion over 2010 in Africa. Traditionally, targets have been aimed at natural resources like the hydrocarbon and mining sectors. “China needs new emerging markets to consume their solar products besides Europe, and Africa could be one of them,” Sun said. “We’ll begin investigating this month in Africa to determine a suitable project in each country, such as installing solar panels on the rooftops of schools and hospitals.”
The export value growth of Chinese photovoltaic products, primarily solar cells, would slow to about 60% this year, compared with a 107% increase last year, Sun said. This was due to an oversupply as European nations, the biggest market in recent years, cut subsidies for solar farms, Sun added.
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