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The African Development Bank (AfDB) has announced that its Board of Directors has approved a senior loan of ZAR3 billion (US$228.6 million) to the 100 MW Redstone Concentrated Solar Power (CSP) Project. The total cost of the project is US$789 million.
Located in the Humansrus Solar Park, Northern Cape Province of South Africa, the project comprises the development of a 12-hour molten salt thermal energy storage system and the construction of a new 132 kV switching station and a 34 km long single circuit 132 kV transmission line.
The system is expected to generate 466 GWh/year and meet peak electricity demand in the absence of sun, and allow for dispatchability to adapt generation to electricity demand. It will offset diesel-fueled Open Cycle Gas Turbine’s (OCGT’s) operating at peak demand, thereby avoiding and mitigating carbon dioxide (CO₂) emissions from fossil fuels.
The project will also improve South Africa’s power supply and access to energy, and green the energy mix which is currently dominated by coal at 82%.
Majority owned by ACWA Power, the project was awarded a power purchase agreement (PPAs) under the Department Of Energy's Renewable Energy Independent Power Producer Procurement (REIPPP) Programme.
The programme mandates the project to fulfil certain social development requirements on citizens employed, Black Economic Empowerment, procurement from small and medium-scale enterprises, local content, and shareholding by local communities.
Enel Green Power RSA, the Enel Group’s South African renewables company, has signed project financing agreements a portfolio of five new wind projects, totalling roughly 700 MW of capacity.
Read moreBioTherm Energy, a South African renewable energy development platform and power producer, has reached financial close on a portfolio of wind and solar projects with a combined generation capacity of 284 MW. The total development cost of the portfolio is approximately US$500 million.
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Mainstream Renewable Power has announced the successful completion of financial close for two wind projects in South Africa: the 140 MW Kangnas wind farm, located near Springbok in the Northern Cape, and the 110 MW Perdekraal East wind farm, located 80km northeast of Ceres, in the Western Cape.
Read moreThe Energy Minister of South Africa, Jeff Radebe, has announced that the fifth bidding round of the country's Renewable Energy Independent Power Producers Procurement Programme (REIPPPP) will be launched in November 2018. The tender will procure up to 1.8 GW renewable capacity.
Read moreENERTRAG has announced that it has acquired a 50% stake in a 1.8 GW wind power pipeline in South Africa. It will partner with Genesis Eco-Energy Developments (GEED) to develop the projects, some of which are already at an advanced stage of development.
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