Analysis of the Photovoltaic (PV) Power Generation Export Market

Market-driven, government-led: As the top-level design authority, government departments directly influence all industries through domestic and foreign economic policy formulation. Is China’s national Belt and Road Initiative (BRI) beneficial or detrimental to the photovoltaic industry? Overall, the PV industry has benefited from the BRI. Energy cooperation among BRI countries encompasses both conventional and new energy sectors. BRI countries exhibit strong complementarity in resource endowments, capital, and technology. The BRI passes through regions—including equatorial and Arctic zones—with enormous renewable energy potential (e.g., wind and solar), enabling the construction of a Global Energy Interconnection. This interconnection promotes economic cooperation through energy infrastructure development, advances infrastructure construction via cross-border energy connectivity, and further drives the BRI Economic Belt by promoting widespread global adoption of smart grids and strengthening innovation in energy and power technologies—thereby also fostering friendly diplomatic relations among participating countries. On November 4, 2016, the Paris Agreement on climate change officially entered into force. Cooperation among BRI countries in new energy will likewise facilitate achievement of the Agreement’s targets. The BRI has opened new market growth opportunities and internationalization pathways for Chinese PV enterprises, breaking previous overreliance on low-margin competition in European, American, and Japanese markets. In 2016, domestic leading brand JASOLAR supplied PV projects across more than 30 BRI countries, shipping nearly 700 megawatts of PV products—accounting for 12% of its total annual shipments. Since the BRI’s launch, China has actively pursued a ‘Green Silk Road,’ deepening cooperation with partner countries to promote shared development. As a globally leading sector of Chinese manufacturing, the domestic PV industry has joined other flagship export industries—such as high-speed rail and nuclear power—in expanding overseas under the BRI framework, significantly advancing renewable energy deployment across BRI countries and regions. Leveraging BRI policies, Chinese PV firms have accelerated global expansion by establishing PV industrial parks along BRI routes, harnessing local resource advantages to localize high-efficiency products and advanced technologies, and supporting host countries in gradually developing and improving their PV industry policies, standards, and capabilities. Historically, Chinese PV exports targeted primarily Europe, the U.S., and Japan; however, in recent years, broader BRI-focused deployment and investment have expanded into new markets. How do these emerging BRI markets differ from traditional Western markets? First, some BRI countries possess relatively underdeveloped electricity infrastructure but abundant solar irradiation resources…

South Africa M&A Guide

i. Public companies; ii. State-owned companies; iii. Private companies, if either of the following applies: (i) at least 10% of their shares were transferred (between unrelated parties) within the two years preceding the proposed transaction; or (ii) their Memorandum of Incorporation expressly subjects the company and its securities to Chapter 5, Parts B and C of the Companies Act and the takeover regulations. Chapter 5, Parts B and C of the Companies Act—and the associated takeover regulations—apply to so-called 'affected transactions' involving a 'regulated company,' such as tender offers, statutory mergers, schemes of arrangement, or disposals of all or substantially all of the company’s assets. Due to their significance to the company and its shareholders, such transactions fall under the regulatory purview of the Companies Act’s takeover rules and the Takeover Regulation Panel (TRP). 1.3 Do special rules apply to foreign acquirers? Generally, no special rules apply specifically to foreign acquirers. Section 22 of the Protection of Investment Act No. 22 of 2015 stipulates that 'foreign investors and their investments shall not be treated less favourably than South African investors in like circumstances.' The 'like circumstances' requirement necessitates a holistic assessment of the advantages and disadvantages of the foreign investment—including sector-specific considerations, the objectives of relevant measures, the particular foreign investor or investment, and impacts on stakeholders, employment, and the environment. South Africa lacks a dedicated foreign investment approval process. However, the Competition Amendment Act No. 18 of 2018 introduced a national security review mechanism, empowering the President to appoint a committee to assess whether a merger involving a foreign acquisition poses adverse effects on South Africa’s national security interests. If so, the merger may be prohibited on national security grounds. The definition of 'national security interests' is published by the President in the Government Gazette. The South African Reserve Bank (SARB), under the Currency and Exchanges Act No. 9 of 1933, imposes exchange controls on South African residents, primarily to regulate capital inflows and outflows. While foreign acquirers are not directly bound by these exchange control rules, they may be indirectly affected—for instance, where acquiring South African assets or engaging in certain transactions with exchange-controlled South African residents requires prior exchange control approval. Foreign investors enjoy access to virtually all commercial sectors, although sector-specific legislation (e.g., broadcasting, aviation, and private security) may restrict foreign ownership beyond prescribed thresholds or require prior ministerial approval. 1.4 Are there sector-specific rules? Sector-specific rules exist for certain industries—including aviation, broadcasting, banking, insurance, mining, private security, and telecommunications—which may impact M&A activity in those sectors—for example, by imposing ownership…

Solar Industries Bids $1.4 Billion for South Africa’s Omnia

Sep 13, 2026

Solar Industries India agreed to acquire South African industrial-explosives and fertilizer firm Omnia Holdings for $1.4 billion to expand into mining and agriculture markets. The deal grants access to Omnia's global facilities and leverages Solar's technology for crop health and mining.

bloomberg

2026-09-13

Solar Industries Bids $1.4 Billion for South Africa’s Omnia

Solar Industries Bids $1.4 Billion for South Africa’s Omnia

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