Grootfontein II Solar Park

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This project involves the construction of the Grootfontein I Solar Park located in Grootfontein, South Africa. The plant is the first of a 3 plant solar project. The combined total capacity of all 3 plants is 273MW. The total investment value for all 3 is $270 million. The sponsors are Scatec (51%), H1 Holdings (46.5%) and the Grootfontein Local Community Trust (2.5%). The debt provider is Standard Bank. The debt to equity ratio is 88:12. The sponsors were granted concessions during the 5th round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) in 2021. The sponsors signed a 20 year PPA with Eskom in 2022. Financial closure was achieved in June 2023. https://scatec.com/2023/06/30/scatec-reaches-financial-close-for-its-grootfontein-solar-projects-in-south-africa-and-prepares-for-construction-start/;