SFQ Global announced on Wednesday, 21 October, that its subsidiary SFQ HuanYu had recently signed an engineering, procurement and construction (EPC) contract worth $41.4 million for a solar photovoltaic project with storage in the Democratic Republic of the Congo.
The agreement provides for a first phase worth $22.3 million and a second worth $19.1 million. The subsidiary is to handle design, equipment procurement, transport, construction work, installation, commissioning, grid connection, performance testing and maintenance, according to the notice published by the Hong Kong-listed group.
The document presents the contract as a revenue-generating activity for the group. It does not, however, specify the capacity of the system, its location, the construction timetable or the identity of the client. The announced amount therefore relates to a signed contract, not to a plant already delivered or commissioned.
SFQ Global, whose declared activities had until now been concentrated in Malaysia, is placing the deal within its expansion into Africa. The group says the project should allow it to gain operational experience on the continent.
The capacity and the grid connection date, needed to measure the contribution to the Congolese power supply, have yet to be published.