Scatec Solar photovoltaic projects, South Africa
Name and Location
Scatec Solar photovoltaic (PV) projects, South Africa.
Client
Scatec Solar, through its joint venture company, Scatec Solar South Africa.
Project Description
The two PV projects will be located at Linde, in the Northern Cape, and Dreunberg, in the Eastern Cape.
Both regions boast some of the best conditions for solar power in the world.
Combined production will be more than of 225-million kilowatt hours a year, enough to supply the electricity demand of 53 000 South African households.
The power will be fed into the local grid and sold through a 20-year power purchase agreement with State-owned power company Eskom.
The plants represent carbon dioxide abatements of almost 190 000 t/y.
The projects were selected under the second round of the South African Renewable Energy Independent Power Producer Procurement Programme.
Value
The capital investment for the two projects is about €300-million and will be financed through Standard Bank.
The consortium providing the equity finance consists of Scatec Solar, the largest majority owner, Standard Bank, Old Mutual Life Assurance Company, Norfund and Simacel.
Duration
Not stated.
Latest Developments
Scatec Solar signed the final agreements with South Africa’s Department of Energy in May.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Scatec Solar South Africa project development, Jed Borrill, tel +27 11 784 2777 or email jed.borrill@scatecsolar.com.
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