Concentrator PV (CPV) specialist, Soitec, has said its 44MW Touwsrivier solar power plant in South Africa, has reached 50% commissioning.
Soitec has said it is confident that it will complete the remaining 50% on schedule, in a few months, using local partners and suppliers; already 60% of the 44MW CPV plant has been installed.
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The 50% completion meets the project targets for the 44MW solar plant’s power purchase agreement (PPA) with South Africa utility, Eskom.
Reaching the 50% completion milestone will also enable the project to seek further finance, with availability of proceeds from a bond issued April 2013 on the Johannesburg stock exchange.
Soitec finalised the US$100 million bond for the Touwsrivier solar plant in May 2013 – said to be the first publicly listed bond issued for a CPV plant.
Yesterday Soitec announced it has sold a 7MW solar power plant in California.