Yingli-plans-South-Africa-solar-plant, says Reuters

South Africa has signed a deal with Chinese company Yingli Solar to build a $435 million manufacturing plant with a local partner, according to Reuters’ report from a senior government official.

(November 18, 2010 – Reuters) — South Africa has signed a deal with Chinese company Yingli Solar (YGE) to build a $435 million PV manufacturing plant with a local partner, according to Reuters’ report from a senior government official.

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Nelisiwe Magubane, director general at South Africa’s department of energy, told Reuters on the sidelines of a visit by China’s vice president that Yingli would partner with a local company and aimed to start building the plant within 12 months.

Magubane on Wednesday also signed an agreement, witnessed by Vice President Xi Jinping, between South Africa and the China Development Bank on broad ranging energy cooperation.

Story produced by Thomson Reuters, copyright 2010. Read the full story here.

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