$13 bln investment in renewable energy makes S.A world leaders says Solar Reserve Vice President

No Comments » June 30th, 2016 posted by // Categories: Energy Development Project



 

 

SUMMARY

SolarReserve has

1.  secured a $1 billion bid to construct a Concentrated Solar Power (CSP) plant named Redstone with the construction of it starting in September. Redstone will generate 100 MW of energy.

The energy developers already have two operational plants

2.  in the Northern Cape, namely Jasper, which generates 96 MW of energy, and

3.  Lesedi generating 75 MW., both located adjacent to each other, at Humansrus, near (east of) Postmasburg, Kimberly

The cost of both plants was just under $400 million says Govender.

4.  Letsatsi Projects,  75 MW-DC of installed capacity in the Free State, at Soutdrif, near (north of) Bloemfontein.

 


 

https://en.wikipedia.org/wiki/Jasper_Solar_Energy_Project

WIKIPEDIA

Jasper Solar Energy Project

From Wikipedia, the free encyclopedia

The Jasper Solar Energy Project (or Jasper PV Project) is a 96 megawatt (MW) photovoltaic power station, located near Kimberley, in South Africa‘sNorthern Cape. The project completed construction in October 2014 and is fully operational to power up to 80,000 homes.[1]

Google has a recent history of investing in wind and solar power, and since 2010 has committed to more than US$1 billion in renewable energy projects worldwide. Until 2013 little of this was spent on renewable energy in Africa. A new $12 million investment in the Jasper power project, at a project cost of approximately ZAR2.3 billion ($260 million) signals a change in policy. It is one of the largest solar installations in Africa, comprising over 325,000 PV[2]modules and providing enough power for 30,000 homes.

Background[edit]

Since 2008 South African households and industry endure rolling blackouts due to a severe lack of generating capacity. Only since then has the Government been active in looking at new potential sources of electricity. These incentives led to South Africa’s having the highest growth in clean energy investment in the world in 2012.[1] While it is dependent on fossil fuels, its generous resources of wind and sun have made it opportune to diversify and to set itself the goal of installing 18 gigawatts of renewable energy capacity by 2030.[3]

SolarReserve, a developer of large-scale solar energy projects, joined forces with the Kensani Group and Intikon Energy, two South African companies, to develop three photovoltaic (PV) solar energy projects in South Africa. This consortium was awarded preferred bidder status in May 2012 by the South Africa Department of Energy. SolarReserve is busy on two other 75 megawatt projects, Letsatsi and Lesedi.[1][4] The consortium closed the $260-million contract with investments coming from Google, the Government’s Public Investment Corporation (PIC), the Development Bank of Southern Africa and the PEACE Humansrus Trust.[5] SolarReserve appointed SgurrEnergy as technical advisor on the projects involving the Letsatsi PV plant at Soutdrif north of Bloemfonteinand Lesedi PV plant at Humansrus east of Postmasburg.[6]

 


 

http://guardian.ng/business-services/13-bln-investment-in-renewable-energy-makes-s-a-world-leaders-says-solarreserve-vice-president/

GUARDIAN

$13 bln investment in renewable energy makes S.A world leaders says solarreserve Vice President

By Aviwe Mtila     |   01 July 2016   |   1:12 am

PHOTO: KAREN BLEIER / AFP/Getty ImagesPHOTO: KAREN BLEIER / AFP/Getty Images

With investments of over $13 billion in the last five years, South Africa are world leaders in the growth of Renewable Energy says Vice President of Solar Reserve, Terence Govender.Addressing the media during an energy tour in South Africa’s Northern Cape Province, Govender says the growth of Renewable Energy in the country has hugely assisted in curbing electricity cuts that are widely known as ‘load shedding’ in South Africa.

“This is one area where government has outdone its self because there are lots of foreign investors coming into South Africa for Renewable Energy. With renewable energy becoming cheaper and with its cleanness, it is the future for South Africa and the continent as a whole,” says Govender.

SolarReserve has secured a $1 billion bid to construct a Concentrated Solar Power (CSP)plant named Redstone with the construction of it starting in September. Redstone will generate 100 MW of energy. The energy developers already have two operational plants in the Northern Cape, namely Jasper, which generates 96 MW of energy, and Lesedi generating 75 MW. The cost of both plants was just under $400 million says Govender.

“The two plants here are PV plants and now we’ll be constructing a CSP which will be able to generate energy in the evening as well,” says Govender.


 

http://mybroadband.co.za/news/general/114001-massive-south-african-solar-plant-comes-online.html

Jasper PV Project overview

  • Location: near Kimberley, South Africa
  • Technology: Photovoltaic (PV)
  • Size: 96 MW-DC installed capacity; 75 MW-AC net generation
  • Electricity Production: approximately 180,000 MW-hours annually
  • Power Purchaser: 20-year government supported PPA with Eskom
  • Homes Powered: 80,000 homes

Massive South African solar plant comes online

96 megawatt solar photovoltaic (PV) project helps power the South African electric grid with renewable energy

By  – November 11, 2014
Jasper solar power project

SolarReserve, a global developer of solar power projects and solar thermal technology, announced that the 96 megawatt (MW) photovoltaic (PV) Jasper solar power project is fully operational.

Jasper is located in South Africa’s Northern Cape in a solar park that also includes the 75 MW Lesedi solar power project which came online in May.

“In addition to helping South Africa meet its critical electricity needs, the Jasper Project will bring long lasting economic benefits to the region,” said SolarReserve’s CEO Kevin Smith.

With over 325,000 PV modules, the Jasper Project will deliver 180,000 megawatt-hours of renewable electricity annually for South African residents.

The power generated is enough to power up to 80,000 households through a 20-year power purchase agreement with Eskom.

The project also marked Google‘s first renewable energy investment in Africa – the Internet search invested US$12 million in the solar project.

Jasper solar power project photos

Jasper solar power project

Jasper solar power project

Jasper solar power project

Jasper solar power project

Jasper solar power project

Jasper solar power project


 

http://mybroadband.co.za/news/general/103211-two-large-solar-projects-go-live-in-south-africa.html

 

Two large solar projects go live in South Africa

Two 75-megawatt (MW-DC) solar photovoltaic (PV) projects provide new clean energy in South Africa

By  – May 29, 2014

Solar project

 

SolarReserve announced that two 75-megawatt (MW-DC) solar photovoltaic (PV) projects have completed construction and are fully operational.

These two projects are helping to power Eskom’s South African electric grid with renewable energy.

The Lesedi and Letsatsi Projects, totalling 150 MW-DC of installed capacity, are capable of powering 130,000 South African homes with clean energy.

The Lesedi Project and Letsatsi Project are located in the Northern Cape and the Free State respectively.

The projects have each executed 20-year power purchase agreements with Eskom, the South African power utility company ranked as one of the top 20 utilities in the world by power generation.

Letsatsi

Letsatsi

Lesedi

Lesedi


http://mybroadband.co.za/news/general/79117-google-invests-in-south-african-solar-energy-plant.html

Google invests in South African solar energy plant

Consortium will build, own and operate the 96 megawatt solar project, which will be one of the largest solar installations on the continent

By  – May 31, 2013

The development consortium consisting of SolarReserve, a US developer of utility-scale solar power projects; the Kensani Group, an investment player in South Africa; and Intikon Energy, a South African developer of renewable energy projects, has successfully closed project financing for the Jasper Solar Energy Project – a 96 megawatt (MW DC) solar photovoltaic (PV) project.

The Jasper Project is located in the Northern Cape of South Africa near Kimberly, and was selected by the South Africa Department of Energy (DOE) in May of 2012 in the second round of bids under the South Africa Renewable Energy Independent Power Producer Procurement Program (REIPPPP).

The project also marks Google‘s first renewable energy investment in Africa – the Internet search giant has invested US$12 million (122 million Rand*) investment.

Upon completion, the Jasper Project will be one of the largest solar installations on the continent and will help South Africa meet its renewable energy targets, and power more than 30,000 South African homes.

Rand Merchant Bank (a division of FirstRand Bank Limited) acted as Mandated Lead Arranger and Bookrunner for the Jasper Project’s debt funding requirements. Equity investment for the project was provided by Google, the Public Investment Corporation (PIC), Kensani Capital Investments, SolarReserve, Intikon, Development Bank of South Africa and the P.E.A.C.E. Humansrus Fund, with Rand Merchant Bank providing preference share equity. International law firm Baker & McKenzie supported the project activities through its offices in Johannesburg and the United States, with Kensani Eaglestone Capital Advisory acting as financial adviser.

The Jasper project has executed a 20-year power purchase agreement with Eskom, the South African power utility. The project cost of approximately ZAR2.3 billion ($260 million) will make this one of the single largest PV projects in Africa. The Jasper project is located adjacent to the 75 MW Lesedi Solar Energy Project, which broke ground in February 2013. The Jasper and Lesedi Projects, along with the Letsatsi Project located near Bloemfontein, put the consortium’s total portfolio of successful solar projects at 244 MW, accounting for a 20 percent share of South Africa’s solar energy market.

The project has an annual operations and maintenance budget of ZAR 36.5 million ($4 million) for staff, services and spare parts. The project will also set aside a percentage of total project revenues for enterprise and socio-economic development, amounting to a total of approximately ZAR 230 million ($26 million) over the life of the project, which will be invested for the benefit of the local communities surrounding the project.

The Jasper Power Project is located in the Northern Cape Province of South Africa, near Postmasburg

http://www.prnewswire.com/news-releases/solarreserve-kensani-and-intikon-complete-260-million-solar-project-financing-with-key-investment-from-google-and-the-pic-209515921.html

SolarReserve, Kensani and Intikon Complete $260 million Solar Project Financing with Key Investment from Google and the PIC

Consortium will build, own and operate the 96 megawatt solar project, which will be one of the largest solar installations on the continent and stimulate economic development in the region

May 30, 2013, 12:00 ET from SolarReserve, LLC

PRETORIA, South Africa, May 30, 2013 /PRNewswire/ — The development consortium consisting of SolarReserve, a U.S. developer of utility-scale solar power projects; the Kensani Group, an experienced empowerment investment player in South Africa; and Intikon Energy, a South African developer of renewable energy projects, has successfully closed project financing for the Jasper Solar Energy Project, a 96 megawatt (MW DC) solar photovoltaic (PV) project. The Jasper Project, located in the Northern Cape of South Africa near the town of Kimberly, was selected by the South Africa Department of Energy (DOE) in May of 2012 in the second round of bids under the South AfricaRenewable Energy Independent Power Producer Procurement Program (REIPPPP). Upon completion, the Jasper Project will be one of the largest solar installations on the continent and will help South Africa meet its renewable energy targets, stimulate long-term economic development, create jobs and power more than 30,000 South African homes. The project also marks Google’s first renewable energy investment in Africa.

(Logo: http://photos.prnewswire.com/prnh/20110519/LA05757LOGO-b)

“We are proud to be part of South Africa’s progressive program to advance clean energy. Our Jasper project will provide substantial, long-term economic benefits to region and help the country meet its impressive clean energy goals,” said Kevin Smith, CEO of SolarReserve. “The South Africa government’s advanced energy projects are allowing the country to quickly become a model for not only the rest of the continent, but for the world. We look forward to continuing our work on Jasper and on our other photovoltaic and solar thermal projects in development in South Africa.”

The Jasper Project financial close comes during a time in which the country has seen massive growth in renewable energy. Spurred by a transformative government-established renewable energy program, South Africa leads the renewable energy race with the highest growth in clean energy in the world in 2012, making it a prime destination for continuing clean energy investment. In November 2012, the consortium led by SolarReserve, Kensani Group and Intikon Energy closed $586 million (ZAR 5.15 billion) in financing for two 75-megawatt solar PV projects located in South Africa’s Free State and Northern Cape, the Letsatsi Project and the Lesedi Project, set to deliver energy to more than 50,000 homes by mid-2014.

Rand Merchant Bank (a division of FirstRand Bank Limited) acted as Mandated Lead Arranger and Bookrunner for the Jasper Project’s debt funding requirements. Equity investment for the project was provided by Googlethe Public Investment Corporation (PIC), Kensani Capital Investments, SolarReserve, Intikon, Development Bank of South Africa and the P.E.A.C.E. Humansrus Fund, with Rand Merchant Bank providing preference share equity. International law firm Baker & McKenzie supported the project activities through its offices in Johannesburg andthe United States, with Kensani Eaglestone Capital Advisory acting as financial adviser.

“The Jasper Project will not only produce clean, renewable energy, but will also bring hundreds of quality jobs to the region. Following on from the Lesedi and Letsatsi deals which closed in Round 1 of the South African Renewable Energy IPP Programme, RMB is again proud to be involved in another successful project with SolarReserve, Kensani and Intikon,” said Daniel Zinman, Rand Merchant Bank.

Google participated in the project by becoming an equity investor at the financial close and will help fund the project during construction. Google has invested heavily in the renewable energy industry; since 2010, the company has committed more than US$1 billion to investments in renewable energy projects worldwide capable of producing two gigawatts of power.

“The Jasper Power Project and other projects being developed through the REIPPPP have the potential to transform the South African power grid, and we’re proud to be a part of that effort,” said Rick Needham, Google’s Director of Energy and Sustainability.

The Jasper project has executed a 20-year power purchase agreement with Eskom, the South African power utility. The project cost of approximately ZAR2.3 billion ($260 million) will make this one of the single largest PV projects in Africa. The Jasper project is located adjacent to the 75 MW Lesedi Solar Energy Project, which broke ground inFebruary 2013. The Jasper and Lesedi Projects, along with the Letsatsi Project located near Bloemfontein, put the consortium’s total portfolio of successful solar projects at 244 MW, accounting for a 20 percent share of South Africa’s solar energy market.

“The Kensani Group is once again honoured to be instrumental in contributing to the realisation of our governments’ vision for clean, sustainable power generation that will also result in the economic upliftment of disenfranchised communities. Kensani and its partners are committed to the development of our infrastructure space through this world-class renewable energy programme,” said Kelley Starke-Dow, CEO Kensani Group.

Yielding approximately 300 construction jobs and 50 permanent operational jobs, the project will provide rural development programs and education enhancement, as well as skills and technology transfer. The project is expected to generate significant additional indirect and induced jobs across the supply chain during the construction phase and during the 25-year plus operational period. The project has an annual operations and maintenance budget of ZAR 36.5 million ($4 million) for staff, services and spare parts. The project will also set aside a percentage of total project revenues for enterprise and socio-economic development, amounting to a total of approximately ZAR 230 million ($26 million) over the life of the project, which will be invested for the benefit of the local communities surrounding the project.

About SolarReserve
SolarReserve, LLC – headquartered in Santa Monica, California – is a developer of large-scale solar energy projects with activities worldwide. SolarReserve has commercialized the world’s leading solar thermal energy storage technology utilizing molten salt in a power tower configuration. SolarReserve’s solar energy storage technology has the capability to deliver clean, reliable electricity at any time, day and night. SolarReserve’s team of power project professionals have assembled an extensive 5,000 MW worldwide development portfolio of large-scale solar projects featuring its advanced solar thermal technology (also referred to as concentrated solar power or CSP) as well as projects utilizing photovoltaic technology.

SolarReserve has solar energy projects with capital costs of more than US$1.5 billion in construction, both CSP and PV projects, including its flagship Crescent Dunes Solar Energy Project in Nevada and the Lesedi and Letsatsi projects in South Africa. The 110MW Crescent Dunes project is the first commercial scale facility utilizing the advanced molten salt power tower energy storage technology. SolarReserve’s technology can capture and store the sun’s thermal energy and can operate ‘on demand’ just like conventional coal, natural gas or nuclear power plants, but without the release of harmful emissions or hazardous wastes associated with conventional power plant technology, nor does it expose utilities and rate payers to volatile fossil fuel prices.

For more information: www.SolarReserve.com

U.S. Media Contact: Andi Plocek, SolarReserve, +1.310.315.2233, Andi.Plocek@SolarReserve.com

About the Kensani Group
Kensani was established 15 years ago for the economic upliftment and empowerment of women in South Africa. Kensani is an informed and experienced Broad-Based Black Economic Empowerment group (BBBEE) focused on providing investment and other services in the Southern African infrastructure sector. Given Kensani’s successful infrastructure track record, Kensani is leveraging its significant expertise into the fast-growing South African renewable energy sector as financial advisor in partnership with Eaglestone, investor and operator.

Media Contact:
Coenraad Krige: coenraad@kensani.co.za

About Intikon Energy
Intikon Energy is an international developer and owner of renewable energy projects in both the wind and solar sector. The proponents involved with Intikon Energy have developed in conjunction with international partners more than 250MW of wind projects and 500MW of solar projects globally. Intikon has a strong presence in both the South African and Australian markets.

Media Contact:
Stephen Donnelly: stephen.donnelly@intikon.com

About Rand Merchant Bank
Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading African investment bank and part of one of the largest financial services groups in Africa. We offer our clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions. RMB has funded several infrastructure, resource finance, mergers and acquisitions, and development projects in many African countries over the past decade. Our knowledge of local financing requirements, legal and jurisdictional frameworks, together with the expertise and balance sheets of FirstRand Bank, enable us to service the needs of the rapidly expanding African economy.

As the investment banking arm of the FirstRand Group, RMB has access to a network of retail banks in 25 African countries (including offices representative offices), and subsidiaries in the UK, India, China, and the Middle East.

Media Contact: Joandra Griesel: joandra.griesel@rmb.co.za

About Google
Google is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top Internet property and its brand one of the most recognized in the world.

Media Contact: Kate Hurowitz: khurowitz@google.com

About Public Investment Corporate (PIC)
Public Investment Corporation SOC Limited (PIC) is the largest, most successful investment managers on the African continent. Solely owned by the South African Government they have managed public sector funds since 1911. In March 2012, PIC’s assets under management totalled R1.17trillion.  PIC invests funds on behalf of public sector entities, based on investment mandates dictated by each of these clients and approved by the Financial Services Board (FSB). The largest of these is the Government Employee Pension Fund (GEPF), which accounts for more than 88% of assets under management.

Media Contact: Nomzamo Petje: nomzamo.petje@pic.gov.za

About Development Bank of South Africa (DBSA)
The Development Bank is a leading Development Finance Institution (DFI) in Africa South of the Sahara, playing the roles of Financier, Advisor, Partner, Implementer and Integrator.  The Bank maximizes its contribution to sustainable development in the region by mobilising financial, knowledge and human resources to support Government and other development role-players in improving the quality of life of people in the region through funding infrastructure projects; accelerating the sustainable reduction of poverty and inequity; and promoting broad-based economic growth and regional economic integration.

Media Contact: Jacky Mashapu: JackyM@dbsa.org

About The P.E.A.C.E Foundation
The P.E.A.C.E Foundation was established in 1993, as a Trust, as a registered Non-Profit Organization and an accredited recipient for Corporate Social Investment and Enterprise Development in terms of the BBBEE Scorecard requirements. The P.E.A.C.E Foundation has developed a solution, known as the P.E.A.C.E Model that serves as a mechanism for poverty alleviation in rural communities, through Local Economic Development (LED).

Media Contact: Edith Hlalele: edith@peacefoundation.org.za

About Iberdrola
Present in over 30 countries, IBERDROLA ENGINEERING is a world leading energy engineering company that builds “turnkey” projects in the generation, nuclear, network and renewables sector, both for IBERDROLA GROUP companies as well as for third parties.

Media Contact: Vicente Trullencha Arenas: vtrullencha@iberdrola.es

Abut Group Five
Group Five was established in 1974. Today, the group is an integrated construction services, materials and infrastructure investment group operating in over 20 countries with more than 12 000 people in its employ.

Media Contact: Peter de Vries: Pdevries@groupfive.co.za

 

SOURCE SolarReserve, LLC

RELATED LINKS

http://www.SolarReserve.com
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