Earlier in the day, it was announced that Norway-based Scatec Solar will develop a 75 MW system in South Africa, having been selected as a preferred bidder under the first round of the Governments renewable energy program.
Now, the consortium has joined the preffered bidder group, meaning they have earned the right to execute the 20-year government-supported power purchase agreements with utility company, Eskom.
The two photovoltaic projects – Letsatsi and Lesedi are worth 75 MW each and will be installed in the Free State and Northern Cape provinces of South Africa. Work on the systems is scheduled to commence next June and around 600 construction jobs are expected to be created.
Kensani Capital Advisory will act as financial advisor, along with with Rand Merchant Bank, a division of FirstRand Bank Limited, appointed as the lead arranger and underwriter to the projects. "The projects will require an investment of approximately ZAR5 billion, or more than US$600 million, over the next two years," commented Wandile Motlana, chairman of the Kensani Group.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
Becky Beetz
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.