Dubai group targets 500MW
Phanes Group plans ambitious growth following investment from GES
Dubai-based solar developer Phanes Group plans to increase its global installed solar capacity by 500MW over the next two years from 70MW currently, following General Energy Solutions’ acquisition of a 30% stake in the company.
The company has projects in the UK and the Dominican Republic, with plans to expand in the United Arab Emirates, Chile and South Africa.
Phanes Group managing director Martin Haupts said: “The regional and global solar energy landscape is evolving, presenting clear opportunities for developers and investors that can create the right partnerships and offer innovative financing structures that support the rapid scale up of solar in the energy mix.
“The GES investment and our robust project pipeline are a demonstration of our unique value proposition, engineered to facilitate the shift to centralized and decentralized solar in markets where it offers clear value.”
Image: new projects are planned for the UAE, Chile and South Africa (sxc)