PV developer SolarReserve has completed and put into full operation two 75MW PV plants in South Africa.
Power from both the Lesedi and Letsatsi projects will be sold to South African utility, Eskom, under 20-year power purchase agreements. Under the directive of South African Renewable Energy Independent Power Producer Procurement programme (REIPPPP), both plants have set aside a certain amount of revenue for economic development, which will be invested and used to help boost local communities.
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Lesedi and Letsatsi, which are located in the Northern Cape and Free State, respectively, form the largest renewable energy project ever created in continental Africa, SolarReserve said.
Kevin Smith, CEO of SolarReserve, said: “The social and economic benefits that these projects are imparting in South Africa today demonstrate the positive results of close cooperation between the US and South African governments along with private companies in each nation. We look forward to continuing this positive momentum through collaboration on further projects, including concentrated solar thermal power (CSP) plants, featuring SolarReserve's industry-leading CSP technology with integrated energy storage. Our upcoming CSP projects will provide South Africa with clean, reliable and non-intermittent electricity, day and night.”
Both facilities were developed by a group that included SolarReserve, the IDEAS Managed Fund, the Kensani Group, GCL Poly Energy Holdings and Intikon Energy, while funding came from Rand Merchant Bank, the investment banking subsidiary of FirstRand Bank Limited.
