Semiconductor materials manufacturer Soitec announced on Tuesday that its Touwsrivier concentrator photovoltaic (CPV) solar plant, in the Western Cape, had met milestones set for commissioning of half of the 44 MW facility.
The company said in a statement it was confident of completing the project in the coming months, noting that more than 60% of the plant had already been installed.
The achievement of the 50%, or 22 MW, milestone would trigger a refinancing of the project through the availability of the proceeds of the bond issued on the JSE in April last year.
The R1-billion bond was the first-ever listed project bond issued to finance a South African solar power plant based on CPV technology.