US energy investor Denham Capital Management LP continues to allocate money to the renewable energy sector with its latest deal to spend $190 million on solar power plants. Partnering with Fotowatio SL, the companies will build solar PV parks in various locations, including South Africa.
The decision came about after monitoring the drop in price of solar panels, which fell 47% in 2011 and made the industry more competitive. The American firm has already staked claim in South Africa with an equity investment of $150 million in local company Bio Therm Energy. A year ago, the investor gave $108 million to geothermal developer Vulcan Power Co.
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