Scatec Solar, has signed the final agreements with South Africa’s Department of Energy to build two more PV projects totaling 115 MW under the second round of the South African Renewable Energy Independent Power Producer Program.
The plants will be located at Linde in Northern Cape and Dreunberg in Eastern Cape, both sun drenched regions that boasts some of the best conditions for solar power anywhere in the world. Combined annual production will be in excess of 225 million kWh per year, enough to cover 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 the national utility company, Eskom.
The capital investment for the two projects is in the range of € 300 million and will be financed through South Africa’s largest commercial bank, Standard Bank. The consortium providing the equity finance consists of Scatec Solar as the largest majority owner, Standard Bank, Old Mutual Life Assurance Company, Norfund and Simacel.
VERD Q.I. has been appointed as the Technical Adviser of the equity partners and has advised them on the structuring of the EPC and O&M agreements with Scatec Solar for the construction of both plants.
VERD Q.I.’s CEO Sabine Christiaens participated again this year at Intersolar in Münich, Germany during the 3 days’ trade fair. “It has been good to catch up with the different suppliers and customers.
The solar market is going through a difficult era, but these events always create new opportunities and VERD Q.I. was there to reinforce the relationships with its partners and to develop further its business.”
June 21st 2013 : VERD Q.I. visits Intersolar in Münich, Germany
May 13th 2013 : VERD Q.I. advises on 115 MW of solar PV in South Africa built by Scatec Solar
November 27th 2012 : 80 MW wind farm to go on line near Port Elizabeth in 2014
Nordex, the german wind turbine manufacturer has been awarded the contract for the delivery and installation of the 80 MW “Red Cap Kouga” wind farm near Port Elizabeth on a turn-key basis. The work includes the construction of the foundations and road access as well as cabling and the transformer station and is scheduled to start in April 2013.
Nordex will be supplying 32 N90/2500 strong-wind turbines and installing them at the coastal site, which is characterised by mean wind speeds of around 9 m/s.
The customer and ultimate operator of the Kouga project is Red Cap Kouga Wind Farm Pty. They are funded by Cape Town-based investment management firm Inspired Evolution, the Standard Bank of South Africa and the IDC.
VERD Q.I.’s CEO Sabine Christiaens has advised Standard Bank of South Africa, as equity investor, on the EPC and O&M contracts and has assisted them in bringing the project to financial close.
November 12th 2012 : Scatec Solar commences construction on 75 MW PV project
Norway-based Scatec Solar has begun construction on a 75 MW photovoltaic project in South Africa. The plant will be built on the Northern Cape, in Kalkbult. The plant will produce in excess of 145 million kWh annually. The electricity will be sold to Eskom under a 20 year PPA.
The €200 million capital investment needed for the project will come from South Africa’s Standard Bank. Meanwhile, Scatec Solar is the majority owner and will provide equity financing, along with Standard Bank, Old Mutual Life Assurance Company and Simacel.
VERD Q.I.’s CEO Sabine Christiaens, has advised Standard Bank, as equity investor, on the EPC and O&M contracts and has assisted Standard Bank in bringing the project to financial close.