Hong Kong-listed SFQ Global announced on Wednesday, 21 October, that its subsidiary SFQ HuanYu had signed a $41.4 million contract to build a solar photovoltaic facility with storage in the Democratic Republic of the Congo. The deal marks a new African project for the company.
The planned work is divided into two phases worth $22.3 million and $19.1 million. The contract covers design and equipment procurement as well as construction, installation, grid connection, testing and maintenance.
Storage is part of the announced project. It is intended to complement generation from solar panels, but the company has not disclosed the plant's capacity or the size of its batteries. The amount of electricity it could deliver to the Congolese grid cannot yet be quantified.
SFQ Global, whose reported operations had previously been concentrated in Malaysia, describes the contract as part of its expansion into Africa. The announcement confirms a construction deal, while the facility's completion and commissioning remain future steps.