The two companies will combine to provide engineering, procurement and construction (EPC) services to the PV industry in South Africa.
Powerway has had a presence in South Africa since announcing plans early last year to build a 500MW mounting system manufacturing plant in the country. The facility opened in Kimberly in June 2012.
For NARI, the venture marks the company’s first foray into the booming South African PV market.
Under the terms of the agreement, the two companies will jointly develop solar farm projects in South Africa and on the African continent, working together as a single EPC contractor to reduce costs and to act as a “one stop solution” approach to solar farm projects.
NARI will also license Powerway South Africa to produce its PV related products, which include inverter, cables and other balance of system equipment.
In a statement, Wang Wei, chairman and general manager of NARI Group said NARI needed “a business partner in South Africa who has already set up a wide market connection and has the capacity of local production to meet local content requirements. Powerway is the ideal partner to work hand in hand [with NARI in] the long term”.