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This is the latest news that the reporter learned from the "2012 Global PV Industry Leadership Summit in Africa" ​​held on November 22. At the moment when Europe and the United States "double-reverse" to block the "sea-going" journey of Chinese PV companies, this news undoubtedly injected a warm wind into the entire industry.
Africa accounts for less than 1%
According to statistics, as of the end of 2011, China's PV products exports have reached 35.821 billion US dollars, but in 2011, only 0.82% of these products were exported to the African continent, far lower than Europe's 56.94%.
This is in stark contrast to the overall situation of China's overseas investment this year. According to Huang Wenhang, Director of the International Cooperation Division of the Climate Change Division of the National Development and Reform Commission, Africa has now become China's fourth largest overseas investment destination. By the end of 2011, China’s stock of non-direct investment had exceeded US$14.7 billion, and China’s non-resident investment companies exceeded 2,000.
As far as the current potential of solar photovoltaic scale development in the African continent is concerned, the future prospects should not be underestimated. According to relevant experts, the African continent, especially in the vicinity of the Sahara Desert, is the world's largest solar light because it is close to the equator. At the same time, according to the International Energy Agency research report, Africa's demand for electricity will expand tenfold in the next 20 years.
From the current point of view, in the world's 27.7GW of PV installed capacity by the end of 2011, the proportion of the African continent is less than one-thousandth. Some countries have some solar module manufacturing plants, but their production capacity is limited to tens of megawatts.
In view of this, Huang Wenhang said that in the future, the country will encourage domestic PV companies to go to the sea, and the next step in the “South-South Cooperation†project between China and Africa will include solar photovoltaic products into the products of aid to Africa.
Hu Chenggang, deputy general manager of Jinko Energy's overseas system project, said that at present, in some African countries, renewable energy subsidies and related tax and fee preferential policies can guarantee the investment of photovoltaic power station projects with lower financing costs, and the internal rate of return can reach 20%. Above, this is higher than the return on investment in PV power plants in China and Europe.
Investment risks should not be underestimated
However, the countries with low financing costs of PV projects referred to by Hu Chenggang are currently limited to countries with strong economic strength such as South Africa, Algeria and Morocco. In most of the African continent, most of the population still lives in areas without electricity, and even traditional energy sources are underutilized. The investment environment created by the government to invest in renewable energy is far from in place.
The obstacles to investing in PV in Africa may go far beyond this. Some analysts in the industry analyzed China Securities Journal reporters that the low starting point, weak market purchasing power and environmental instability are all obvious weaknesses in Africa.
For the current Chinese PV industry, both domestic and overseas markets are facing bottlenecks in financing difficulties, and it is difficult to avoid this problem when entering the African market. In recent years, the Export-Import Bank of China has been providing a series of loan support for Chinese companies in the African market, but these areas are limited to traditional industries such as infrastructure and communications, while for the photovoltaic industry, the threshold may be relatively high.
Zhao Changhui, chief national risk analyst of China Exim Bank, said that investing in the development of photovoltaic power plants in Africa must not only generate electricity, but also determine whether the electricity generated can have users. This is still a huge uncertainty for most African countries.
Guaranteed funds, such as World Bank loans, can minimize project collection risk, but for some unstable, young governments, the risk of collection will be the biggest problem. This is also a question that companies and related financiers must carefully consider.
Hu Chenggang said that in the current market of photovoltaic power generation suffered from the "double opposition" suppression in Europe and the United States, although the market potential is endless in the African market, the government must promote the establishment of corresponding financing mechanisms while vigorously promoting the government. This is also the core issue that companies are currently concerned about.
The Ministry of Commerce plans to promote the development of the African market in the photovoltaic industry
China's Ministry of Commerce is formulating policies to promote Chinese PV companies to go to more than 40 countries in Africa to develop photovoltaic power generation markets. It is also known that the central government will spend 200 million yuan on international cooperation on climate change in the next three years, mainly helping African countries to carry out cooperation in energy conservation and emission reduction product promotion and capacity building.