(Yicai Global) Sept. 12 -- Chinese photo-voltaic (PV) companies are gradually shifting the focus of their business operations toward emerging markets, as demand for PV products continues to grow in India, Africa and other emerging markets, as well as in regions along the 'One Belt and One Road'. Overseas PV markets are expected to become the main battlefields for Chinese PV enterprises in the next several years.
On Sept. 9, Mr. Liu Hongwei, Chairman of China Singyes Solar Technologies Holdings, Ltd. [HK:0750], a private Hong Kong-listed company that specializes in solar technology, said, "Solar power is the optimal solution for power supply in certain areas, as it is cheaper and requires the shortest construction period."
Singyes signed a micro-grid cooperation agreement with the Pacific island nation of Tonga on the same day, inaugurating yet another major project overseas for the company. Micro-grids are small electricity generation and distribution systems comprising distributed power supplies and energy transport and storage devices.
"We have launched a cooperation project with Huawei in Cameroon," Mr. Liu said, "and Tonga is the second deal that we closed outside China. We expect that our company will launch even bigger projects in the second half of 2016 in countries along the routes of the 'One Belt and One Road'."
Going forward, Singyes will cooperate with state-owned enterprises directly under the central government on a regular basis, Mr. Liu added. "We look forward to learning from these enterprises as they went to overseas markets earlier than us."
Thus far, the company has built PV power plants overseas totaling 2GW in installed capacity.