Globeleq completes refinancing of 31 MW solar PV project in Limpopo
Globeleq has completed a US$71 million senior debt refinancing of its 31 MW Soutpan solar photovoltaic (PV) plant in Limpopo Province, South Africa.
Refinancing the project lowers wholesale energy prices, generates a more efficient capital structure, releases funds for owners to reinvest in the power industry, and accelerates equity payouts to Soutpan's community and BEE shareholders. Standard Bank Limited, along with the project's initial lender, Vantage Green X Fund (RF) Pty Ltd, rled the restructuring of the debt.
Soutpan began operations in 2014 and Globeleq bought a majority stake in 2019. Globeleq has supervised operations and maintenance since then and created a plan to improve plant performance, efficiency, and safety.
Country updates
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December 22, 2022
Gridworks to invest in Virunga Power
Gridworks has announced that it will invest US$50 million in Kenyan renewable energy firm Virunga Power. Virunga Power, an African rural electric company that develops, invests in, and runs distribut...
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Eskom launches tender for 35 MW/140 MWh battery storage project in Eastern Cape
The state-owned South African utility Eskom has launched a tender for the design, construction, and operation of a 35 MW/140 MWh battery energy storage project located at Eskom's Melkhout substat...
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AMEA Power to develop 120 MW Solar Project in South Africa
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Canadian Solar supplies modules for 256 MW solar PV projects in North West Province
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December 05, 2022
AfDB to invest in multimillion Energy Fund
The African Development Bank (AfDB) has approved a US$20 million equity investment for Evolution III (EVIII), an Africa-focused energy and infra fund managed by Cape Town-based Inspired Evolution...
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