ACWA Power closes signs debt financing for Redstone CSP
ACWA Power has closed the debt financing with eighth lenders for a US$710 million package for the development of the 100 MW Redstone Concentrated Solar Power project in South Africa.
In July 2018, ACWA Power as signed a cooperation agreement was entered into by the Central Energy Fund of South Africa. The agreement establishes the framework for both entities to co-invest in renewable energy projects the first of which will be the Redstone CSP plant in the country’s Northern Cape Province.
The project was commissioned in the third quarter of 2018 under a 20-year power purchase agreement - build-own-operate-transfer (PPA-BOOT) scheme. Eskom Holdings is the offtaker for the energy produced from the project.
Country updates
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September 05, 2019
Final close reached for Evolution II Fund
Evolution II fund has reached final close with raising a total of US$ 216 million. After the first close, the fund has secured US$ 87.75 million in commitments from CDC Group, Cyane Holdings, the Euro...
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August 29, 2019
Sola Group receives ZAR400m financing for 40 MW solar portfolio
The South African solar developer, SOLA Group, has received financing from African Infrastructure Investment Managers (AIIM) and Nedbank Energy Finance for the development of a 40 MW solar photov...
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August 29, 2019
Climate Investor Fund invests in AfDB's Facility for Energy Inclusion
The Clean Technology Fund (CTF) one of two multi-donor trust funds within the Climate Investment Funds (CIF) on August 8, 2019, approved $20 million for the Facility for Energy Inclusion (FEI), a faci...
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August 20, 2019
MIGA backs 100 MW KaXu Solar One solar power plant in South Africa
MIGA, a member of the World Bank Group, has issued US$98.6 million in guarantees to Atlantica Yield PLC for the ownership and operation of the 100 MW KaXu Solar One solar power plant in South Africa....
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August 19, 2019
Actis announces acquisition of BioTherm Energy and its renewable energy assets
Actis has acquired BioTherm Energy (BioTherm), a South Africa-based, pan-African renewable energy businesses, from Denham Capital, a global private equity firm. BioTherm consists of a strong Johannes...
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