Tongwei And Hexing Sign Strategic Co-operation Agreement For South African Market
Tongwei And Hexing Sign Strategic Co-operation Agreement For South African Market. Tongwei has announced the signing of an agreement with Hexing Electrical for the supply of 30MW of its 182mm high-efficiency modules for deployment in South Africa.
With the South African government committed to achieving zero carbon emissions by 2050, the country is expected to see significant growth in PV installed capacity during 2023, with the excellent power generation capacity, low levelized cost of energy (LCOE), ultra-low attenuation, high reliability and excellent mechanical load capacity of the Tongwei modules providing impetus for Hexing’s smart system solution to deliver more cost-effective clean power energy to the South African market, reducing the cost of electricity and improving the stability of power supply.
According to relevant data, South Africa is expected to phase out some coal-fired power plants by 2030, increase the use of renewable energy, reduce the proportion of coal-fired power generation from 80% to 59%, and achieve zero-carbon emissions by 2050. In order to successfully promote the realization of the energy reform goal and reach the coal phase-out plan promised at the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) as soon as possible, the South African government has significantly increased the tax rate of coal-fired power generation, which has rapidly increased the cost of coal-fired power generation and exacerbated the imbalance between power supply and demand. Against this background, the economic and green PV industry in South Africa ushers in an important development opportunity, and the demand for installed capacity will witness explosive growth in 2023.
TONGWEI CO.,LTD is a China-based company principally engaged in the production and distribution of feedstuffs. The Company is also involved in food processing and cultivation business, as well as the production of animal drugs. In this cooperation with Hexing Electrical in the South African market, Tongwei will focus on supplying Type 182 high-efficiency modules. This series of products features superior power generation capacity, low power cost per kilowatt hour, ultra-low attenuation, high reliability, and excellent mechanical load capacity, which will help Hexing Electrical Intelligent System to bring a more cost-effective clean electric energy to the South African market. This series of modules will fully employ Tongwei’s independently developed TNC high-efficiency cell technology to further improve the power generation efficiency and reduce the power generation cost.
