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Sishen solar photovoltaic power project, South Africa

18th October 2013

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

  

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

Client
The project will be ringfenced in a special-purpose vehicle – Windfall 59 Properties (RF).
Acciona Energy South Africa will have a 51% shareholding and Aveng Africa 29%. The Dibeng Trust, established with a local community shareholding and a nonprofit organisation, will each acquire a 10% shareholding at financial close.

Project Description
The project consists of the construction and operation of a solar PV facility, with a total net contracted capacity of 94 MWp, in the municipality of Dibeng, in the Northern Cape.

The facility will be constructed on a 620 ha site, 17 km north-west of the town of Kathu, which is known as one of the best irradiation sites worldwide and will use 319 600 crystalline solar panels.

The full generation capacity of the plant will be sold to Eskom under a 20-year power purchase agreement.

Value
R1.8-billion.

Duration
The solar PV plant is expected to come on line in 2014.

JinkoSolar, which will supply the solar modules for the project has said that shipments to the project will start in November 2013 to September 2014.

Latest Developments
Investec Corporate & Institutional Banking and Nedbank Capital have announced financial closure for the Sishen solar PV power plant.

Both companies have acted as joint mandated lead arrangers for R1.8-billion of senior debt with the primary shareholders, Acciona Energy South Africa and Aveng Africa.

Key Contracts and Suppliers
Investec Corporate & Institutional Banking and Nedbank (lead arrangers) and JinkoSolar (319 600 solar modules).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Acciona, tel +34 91 663 28 50, fax +34 91 663 28 51 or email comunicacion@acciona.es.
Aveng, tel +27 11 779 2800.
Investec, tel +27 21 416 1000 or +27 21 416 1001.
Nedbank Capital, email nedbankcapital@nedbank.co.za.
JinkoSolar, tel +86 21 60611799 or fax +86 21 68761115.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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