The Competition Tribunal has approved the Public Investment Corporation’s (PIC’s) acquisition of a controlling stake in concentrated photovoltaic (CPV) solar power plant Equity Special Purpose Vehicle (SPV), which is owned by German energy company Solitec Solar.
The PIC, on behalf of the Government Employees Pension Fund, has noncontrolling interests in a number of independent power producers that are supplying solar power to State-owned power utility Eskom’s national grid.
The PIC is owned by the South African government and is the only asset manager that serves the country’s public sector exclusively.
Equity SPV is an SPV company and controls CPV Power Plant No 1, which was established for the purpose of designing, developing, building and operating a solar energy plant in Touwsrivier, in the Western Cape.
Touwsrivier Solar was established in response to the Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme. Touwsrivier Solar uses third-generation CPV technology and it is the only one of its kind in Africa.