New Markets Investor

Q3 2015structure after Nigeria and Algeria. Thecountry’s well-developed constructionsector recorded the fastest average growthin real activity since 2000 compared to itsother economic sectors. FDI stock in theconstruction sector averaged US$290mduring 2010-14 and diverse internationalcompanies involved in the industryinclude Crane Worldwide, Babcock International,Hitachi, and Komatsu.The Jones Lang LaSelle (JLL) Global RealEstate Transparency Index 2014 placedSouth Africa first on the continent in allthe categories covered by the survey, withthe overall results classifying the country’scommercial real estate market as‘transparent’, compared to semi-transparentassessments for Botswana, Mauritiusand Kenya. At the same time, SouthAfrica’s property investment market isthe largest and most mature on the continent.According to Knight Frank, typicallease periods of three to five years are thelongest amongst Africa’s largest economies.Office demand is focused on primelocations and the retail market is by farthe most mature in Africa.SunPower (NASDAQ: SPWR) has begunconstruction on the 86-megawatt peak(MWp) Prieska solar power plant inSouth Africa’s Northern Cape province.Expected to be fully operational in 2016,the project represents the third solarpower plant constructed by SunPowerunder the South Africa government’srenewable energy program (REIPPP). In2014, SunPower completed two projectstotaling 33 megawatts, located nearDouglas in the Northern Cape province.“With an abundance of reliable, cost-effectivesolar resources, South Africa isone of the fastest growing solar marketsin the world today,” said Tom Werner,president and CEO of SunPower, a globalprovider of solar technology and energyservices. “We are pleased to grow ourpresence in South Africa with the developmentof solar power plants that enableSouth Africa’s government to achieveits renewable goals, and look forward tocontinuing to serve the region with theopening of our new solar panel manufacturingplant this year.”New Markets Investor60