Tongwei and Hexing Electrical Signed a Strategic Cooperation Agreement on the South African Market
On December 31, 2022, at the Special Event for the 30th Anniversary of Hexing Electrical Co., Ltd., Hexing Electrical and Tongwei signed a 30MW high-efficiency module supply cooperation agreement. The two parties will integrate superior resources in 2023, work together to expand the South African market, and bring high-quality solutions to the local safe, clean, efficient, and sustainable green power energy supply system.
Hexing Electrical and Tongwei signed a strategic cooperation agreement
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.
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.