Two more solar PV projects come on stream
US-headquartered power project developer SolarReserve has announced the completion of two South Africa-based 75 MW solar photovoltaic (PV) projects, saying that the plants are fully operational and successfully supplying the South African electric grid with renewable energy.
The Lesedi and Letsatsi projects, located in the Northern Cape and the Free State respectively, boast 150 MW of installed capacity and are capable of powering more than 130 000 South African homes with clean energy.
The projects have each executed 20-year power purchase agree-ments with South African power utility Eskom.
Among the largest project finance transactions ever completed in South Africa, the projects were selected by the Department of Energy in the first round of bids under the Renewable Energy Independent Power Producer Procurement Programme.
Financing was provided by a consor- tium including SolarReserve, the Infrastructural, Developmental and Environmental Assets Man-aged Fund, investment firm the Kensani Group, green energy supplier GCL-Poly Energy Holdings and energy group Intikon Energy.
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