SOUTH AFRICA: Scatec Power wins bid to build solar plants

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Scatec Solar- a Norwegian solar power producer has won the bid for the construction of three solar power plants in Upington, Nothern Cape Province in South Africa. The plants will be built close to each other and will produce 285MW of electricity.

This project is the fourth phase of the country’s Renewable Energy Independent Power Procurement Programme (REIPP). South Africa has been carrying out energy projects to strengthen its power supply. Financial close for the project is expected in 2015 while construction is  to commence in 2017 alongside the grid construction currently ongoing in the area.

Raymond Carlsen, CEO of Scatec Solar said: “We are very impressed by the great dermination by the South African government to use large scale renewables to strengthen power supply in the country. With this award, the people of South Africa will access more clean, reliable and cost competitive electricity in many years to come.”

Norwegian Investment Fund for Developing Countries will have 18% of the project equity, the company will own 42% and the balance will be held by the local trust in charge of channeling dividends from the project.

The company plans to build solar power plants in Egypt  and also runs similar developments in Africa, Middle East, America and Asia.

Source: Here

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