Valoe sells solar module plant to Ethiopia

The solar module plant is worth almost 16 million euros.

iStock / hxdyl

Finnish technology provider Valoe has made a manufacturing partnership agreement in Ethiopia that includes an order for a solar module plant worth almost 16 million euros.

The main financer of the project is the Development Bank of Ethiopia.
This is Valoe’s first manufacturing partnership agreement with a foreign customer and it will have a 30 per cent shareholding in its Ethiopian partner company.
“The order Valoe has received proves that new Finnish knowhow is valued,” states company CEO Iikka Savisalo. “Valoe trusts the order will improve the company’s possibilities to meet its targets in the future and speed up the expansion of the company’s operations around the world.”
The plant will be delivered to Ethiopia this year.