Name of the Project
Kathu concentrated solar power (CSP) project.
Location
Northern Cape, South Africa.
Client
The project is being led by ENGIE (48.5%) and includes a group of South African investors comprising SIOC Community Development Trust, Investec bank, Lereko Metier and the Public Investment Corporation.
Project Description
The project involves the construction of a 100 MW greenfield CSP facility with parabolic technology and a molten storage system that allows for 4.5 hours of thermal energy storage. This will enable the plant to supply power for longer periods.
It is estimated that the Kathu solar park will save six-million tonnes of carbon dioxide over 20 years.
The solar power park was awarded preferred bidder status in the third round of the Renewable Energy Independent Power Producer Procurement Programme led by the Department of Energy.
Jobs to be Created
Between 1 200 and 1 500 jobs will be created during the construction phase.
Value
The project is estimated at R9-billion.
Debt funding will be provided by Rand Merchant Bank, Nedbank Capital, ABSA Capital, Investec and the Development Bank of Southern Africa.
Duration
The project is expected to be operational in the second half of 2018.
Latest Developments
Construction on the solar power project started at the beginning of October.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
ENGIE investor relations, tel +33 1 44 22 66 29 or email ir@gdfsuez.com.