South Africa’s Sinayo Group and China’s Mingyang Smart Energy Group have formed a joint venture to enhance clean energy manufacturing capabilities. The goal is to establish two manufacturing plants in Johannesburg, South Africa, for wind turbines and photovoltaic products. With a combined investment of R1 billion, this partnership stands to create over a thousand jobs.
Companies’ Backgrounds and Roles in the Joint Venture
The Sinayo Group, founded in 2016, is a black women-owned investment firm specializing in asset gathering. They have recently expanded into direct fixed investment in South Africa’s energy and manufacturing sectors. Meanwhile, Mingyang Smart Energy Group is a leading clean energy integrated solutions provider and a world-class wind turbine manufacturer. Their role in the joint venture is to offer technical support and lead strategy development for solar panels and wind turbines.
Excitement and Competition
Babalwa Ngonyama, Founder and Global CEO of Sinayo Group, expressed excitement about the joint venture’s potential for job creation and accelerating local enterprise development. Meanwhile, Gregg Abell, Pan Asian CEO of Sinayo Infinity, praised the competitive edge that this partnership will provide. The joint venture will grant access to innovative new energy products, locally manufactured through state-of-the-art facilities and technologies.
Acknowledgment and Praise
Chuawei Zhang, Chairman of Mingyang, acknowledged Southern Africa’s growth potential and praised the partnership with Sinayo Infinity for combining local market knowledge, new energy product development capabilities, and manufacturing expertise. Yunus Hoosen, Acting Deputy Director-General of Investment, praised the partnership’s strategic engagement with China to deepen investment and industrial development in South Africa.
Consistent with Ambitions for a Green Economy and a Just Transition
Stavros Nicolaou of the South African Chapter of the BRICS Business Council highlighted that this collaboration is consistent with China and South Africa’s ambitions to work together in key sectors of their economies, such as energy security. He added that this partnership will further bolster South Africa’s efforts towards a green economy and a just transition.
This joint venture is a testament to the commitment of both Sinayo Group and Mingyang Smart Energy Group to foster clean energy manufacturing capabilities in South Africa and the region. The goal is to drive job creation, economic growth, and sustainable energy solutions.
