Hive Energy Ltd and the UK unit of Shanghai Electric Group Co Ltd, SE Energy Investment Co, have set up a joint venture to carry out a 50MW solar project in Cuba.
Hive Energy is UK-based solar developer with projects around the globe. SE Energy Investment is the subsidiary of equipment manufacturing conglomerate, Shanghai Electric Group.
Construction will be led by SE Energy, and begin in late November 2018. The project includes the construction of three solar parks in the Mariel Development Zone.
The solar park, Cuba’s first utility-sized solar park, is scheduled to be completed in autumn of 2019. The cost of the project is estimated at USD 60 million.
“We have been working in Cuba for many years to realise this project”, said Giles Redpath, CEO of Hive Energy. “We are delighted to be partnering with Shanghai Electric who also have considerable in-country experience. We are proud that this project will reduce Cuba’s dependency on expensive foreign oil and help them reach their renewables target.”