Refinancing of three solar projects in South Africa

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Scatec has announced the refinancing of the non-recourse debt facilities for the 75 MW Kalkbult solar plant, the 75 MW Dreunberg solar plant in Eastern Cape and the 40 MW Linde in the Northern Cape province of South Africa with lenders.

Based on its 45% ownership in the power plants, the company's share of proceeds from the refinancing amounts to ZAR540 million (US$36 million). The refinancing will benefit the South African authorities through a 50:50 profit split between the shareholders of the power plants and the authorities, in accordance with the Refinancing Protocol issued by the Department of Mineral Resources and Energy (DMRE).

In 2020, DMRE embarked on a program for voluntary refinancing of projects under the earlier rounds of the country’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The program’s aim is to reduce tariffs for renewable energy projects in earlier rounds of REIPPP to make the projects cost-competitive and save costs for the national power utility Eskom.

 

List of the country updates

Country updates

  • March 18, 2022

    Sedibelo Platinum plans to acquire energy from 75 MW hybrid wind-solar plant in Western Cape and Rustenburg

    The consortium of German renewable energy developer Juwi and South African renewable project operator Sturdee Energy has been contracted by Sedibelo Platinum Mines Limited (SPM) to supply power f...

    Read more
  • February 08, 2022

    Total Eren, Chariot sign MoU with Tharisa for 40 MWp solar project in North West Province

    Total Eren and Chariot have signed a Memorandum of Understanding (MoU) with Tharisa plc, the platinum group metals and chrome producer, for the development of a 40 MWp solar photovoltaic (PV) pro...

    Read more
  • December 09, 2021

    Enel starts commercial operation of its 145 MW Garob wind project in the Northern Cape

    Enel SpA, through its subsidiary Enel Green Power RSA, has started the commercial operation of its 145 MW Garob wind farm project that is developed in the Northern Cape province of South Africa.&...

    Read more
  • December 03, 2021

    Engie finalizes investment in 100 MW Xina Solar One CSP project in Northern Cape

    French multinational utility company Engie has completed the acquisition of Abengoa’s indirect stake in Xina Solar One. Following completion of the transaction, Engie now holds a 40% equity sta...

    Read more
  • November 01, 2021

    Frazer solar signs a contract to develop a 100 MW solar PV project in Matsapha

    Frazer Solar has signed a 40-year contract with the government of Eswatini, also known as Swaziland, to build a 100 MW solar photovoltaic park with energy storage located at the Edwaleni hydropow...

    Read more

Share this update