Name and Location
Waterval smelter cogeneration plant, North West, South Africa.

Client
Eternity Power, a special purpose vehicle that is 80% owned by Investec Corporate and Institutional Banking and 20% owned by clean-energy project developer Vuselela Energy.

Project Description
The project involves the construction of South Africa’s first cogeneration power plant using an Ormat Organic Rankine Cycle system, which uses waste received from a smelter to evaporate organic liquid and drive an expansion turbine.

The first turbine will be implemented by Anglo American Platinum and will be used to supply its Waterval smelter in Rustenburg, in the North West.

The plant’s gross installed capacity will be 4.9 MW, but is expected to run at an average rate of 3.2 MWh, depending on the available heat load.

A year from now the facility is expected to generate 20 GWh.

Value
The project will cost R155-million. Investec is providing R105-million, funded through debt, while an additional R30-million is being funded through an infrastructure grant from the Department of Trade and Industry. The balance is being funded through equity.

Duration
Construction of the cogeneration facility is expected to be completed by June 2014.

Latest Developments
Ormat Technologies has been selected as Eternity Power’s technology partner and will provide the equipment to convert thermal energy into electrical energy.

Key Contracts and Suppliers
Ormat Technologies (technology partner).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Investec, tel +27 11 286 7000 or +27 11 286 7777.