Lenders' technical adviser appointed for N Cape CSP project
Engineering consultancy Mott MacDonald has been appointed lenders’ technical adviser by Investec Bank and Absa Bank for the 50 MW Bokpoort concentrated solar power (CSP) plant, being developed in Groblershoop, in the Northern Cape.
The two banks are the mandated lead arrangers for the R5-billion project, on behalf of a lending consortium comprising Investec, Absa and Old Mutual Specialised Finance.
The equity partners in the development include ACWA Power (40%), the Public Investment Corporation (25%), several funds falling under Lereko Metier (25%), Kurisani Solafrica Investments (5%) and the Solafrica Community Investment Company (5%).
The Bokpoort CSP plant will be equipped with 9.3 hours of thermal storage, enabling the plant to generate about 200 GWh/y during the day as well as into the night.
Mott MacDonald has been appointed to provide technical assistance to the lenders on the project, including monitoring of the 28-month construction and commissioning phase.
The project, which was the largest development selected during the second round of the Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme, is scheduled to be in commercial operation by the end of 2015.
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