Siemens Energy has won an EPC contract for the installation of two photovoltaic projects worth 50 MW each in South Africa.
The turnkey EPC contract for the De Aar farm in Emthanjeni, and the Droogfontein farm near Kimberley, was awarded by a consortium of renewable energy developers headed by Mainstream Renewable Power.
The other partners include Globeleq Generation Limited, Thebe Investment Corporation, Enzani Technologies and Usizo Engineering.
Overall, the consortium will invest €500 million in the two projects. Funding has been received from a syndicate of lenders led by Absa bank and Barclays. The Development Bank of Southern Africa (DBSA) is a senior lender, while a group of South Africa institutional investors have also contributed a share of the project finance.
The consortium was one of the developers that signed power purchase agreements earlier this month for the construction of photovoltaic projects worth 631.5 MW under South Africa’s Renewable Energy Independent Power Producer Programme (REIPPP).
The two photovoltaic farms are expected to be online by mid-2014.
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