Ejuva One and Ejuva Two Solar Plants

active

The project envisages the construction, ownership, operation and maintenance of two solar energy generating facilities, with a capacity of 5 MW each, in the Omaheke region in Namibia. Ejuva One and Ejuva Two are located side by side on a 35-hectare site, about 1 km outside of the town of Gobabis, and are being constructed and managed as one project. The electricity output will be sold to the Namibia Power Corporation (Pty) Ltd under a 25-year Power Purchase Agreement. Both Projects were awarded through the Renewable Feed in Tariff Program. The plants were among the 14 independent power producers that signed a PPA among 27 shortlisted bidders. Bidding criteria for the concession contract was lowest tariff per unit of energy. Ejuva One Solar Energy (Pty) Limited, and Ejuva Two Solar Energy (Pty) Limited are the SPVs that will undertake the project on behalf of the sponsor CIGenCo S.A Limited (Consolidated Infrastructure Group). Total investment in the plants stands at $32 million and is financed via debt and equity in 78:22 ratio. Project financing involves a non-shareholder loan of $25 million provided by Investec Bank. The sponsor, CIGenCo, provided $7 million in equity contribution. Financial close date was not specifically reported but it was announced that in September 2017 Ejuva One and Two Solar Energy reached commercial operation. It was anticipated that the ring-fenced long-term project finance will be completed by December 2017. https://www.miga.org/Documents/ESRS%20Ejuva%20-Final.pdf https://www.moneyweb.co.za/wp-content/uploads/ftp/senspdfs/SENS_20171130_S392812.pdf?x31826 https://ews.rightsindevelopment.org/projects/3548-ejuva-one-and-ejuva-two-solar-energy-projects/ https://constructionreviewonline.com/2018/08/namibia-launches-ejuva-one-and-ejuva-two-solar-plants/ CIGenCo S.A Limited (Consolidated Infrastructure Group) to be added to sponsors' list.