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 photovoltaic (PV) portfolio.
The ZAR400 million (US$26 million) financing will be used by the newly established fund of SOLA Group, Orionis, for the development of projects set to be backed via power purchase agreements (PPAs). The fund has already signed 15-MW PPA with several industrial companies.
SOLA Group directly employs 50 full-time staff in South Africa and estimates the new 40MW pipeline will create a further 880 jobs in the future.
Country updates
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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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July 29, 2019
AIMM closes African Infrastructure Investment Fund 3
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July 08, 2019
Mainstream completes part of the construction of 110 MW Perdekraal East wind project in Western Cape
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July 05, 2019
Enel Green Power begins construction on 140 MW Garob wind project in South Africa
Enel, through its renewable subsidiary Enel Green Power RSA (EGP RSA), has started construction on its 140 MW Garob wind farm located near the town of Copperton, which is part of the Siyathemba Local...
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