Name and Location
Jasper solar photovoltaic (PV) project, Northern Cape, South Africa.

Client
A consortium, comprising SolarReserve (leader), the Kensani Group and Inikon Energy.

Project Description
The project involves the development of a 96 MW PV project and will feature more than 325 000 polycrystalline modules spread across about 180 ha.

It was selected in May 2012 by the Department of Energy's Renewable Energy Independent Power Producer Procurement Programme in the second round of competitive bidding and was awarded a 20-year power purchase agreement with Eskom, South Africa’s State-owned power utility.

Value
$260-million.

Google has invested $12-million in equity in the project.

The project reached financial close in May 2013.

Duration
The preferred bidders identified during the second-bid window have until December 13 to take their projects to financial closure.

Latest Developments
A consortium, comprising Iberdrola Ingenriería and South African company Group Five, has been selected for the construction of the Jasper PV plant.

The contract is worth an estimated $150-million and includes the engineering, equipment supply, civil engineering work, assembly and start-up of this renewable-energy facility.

In addition, the consortium will oversee the development of the transformer substation that will feed the plant's energy and of a 132 kV overhead power line that will connect the infrastructure to the national grid.

Both companies will be responsible for the plant's operation and maintenance for the next 15 years.

Key Contracts and Suppliers
Kensani Eaglestone Capital Advisory (financial adviser) and Rand Merchant Bank (lead arranger and underwriter to the project), Google (equity), Iberdrola Ingenriería Group Five (construction contract).

On Budget and on Time?
Not stated.

Contact Details for Project Information
SolarReserve, Andi Plocek, tel +1 310 315 2233 or email Andi.Plocek@SolarReserve.com.
Iberdrola director of external communication, Jesús García López, tel +34 91 784 23 58.
Group Five, tel +27 11 806 0111, fax +27 11 803 5829 or email info@groupfive.co.za.