Inspired RustMo1 Solar Plant

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Rustmo1 Solar energy was a 7 MW solar PV facility to be located near Rustenberg, South Africa. The project was 51% owned by the investment management firm Inspired Evolution (South Africa), a community trust comprised of local South African businesses (17%) - funded with the help of the IDC, and the project developer Momentous Energy (15%). The project was awarded in a tender administered by the Department of Energy where a critical factor in the decision was the projected price of power. Contractual negotiations on the PPA and financing were to be completed by June 2012, but it was predicted that there would be a 20 year PPA with the state owned utility, Eskom. The EPC contractor was to be Juwi Solar (Germany). Total estimated project cost was ZAR 200 million (USD 25 million), with commissioning expected for 2013. Debt was expected to be provided by NedBank Capital and Industrial Development Corporation (IDC), each 50%. http://www.nersa.org.za/Admin/Document/Editor/file/Consultations/Electricity/Presentations/RustMo%201%20Solar%20Farm%20(Pty)%20Ltd.pdf http://www.rbbv.co.za/rheral0031702.pdf