Shenzhen Energy Group announced plans to build a 50-megawatt solar photovoltaic project in Tamale, Ghana, marking its first overseas solar venture.

The project, located in the Central Gonja District of Ghana's Savannah Region, will use 540-peak-watt bifacial monocrystalline silicon 1,500-volt PV modules and 300-kilowatt string inverters, with supporting step-up and grid-connection equipment including main transformers, 161-kilovolt outdoor switchgear, 34.5-kilovolt switchgear and SVG systems, connecting to the existing 161-kilovolt transmission system via a single T-off line.

Total investment stands at $34 million, with $12.5 million in equity capital to be injected by Gentek Company into the Ghanaian unit. The remaining funds will be provided as interest-bearing loans from Gentek's retained earnings. Gentek will receive capital increases of $7.5 million from Shenzhen Energy Hong Kong and $5 million from China-Africa Fund, based on their 60% and 40% shareholdings respectively. Shenzhen Energy will inject $7.5 million into its Hong Kong unit to facilitate the investment.

Shenzhen Energy said the project, a key initiative under its 15th "Five-Year Plan" strategy, extends its core domestic business internationally and will expand its overseas investment portfolio.