Mainstream Droogfontein Solar Plant

active

Prospective

South African Mainstream Renewable Power Droogfontein Pty Ltd was created to build, own and operate a 50 MW solar PV plant to be located in Droogfontein, South Africa. The project company was owned by a consortium comprising of Ireland based Mainstream Renewable Power (60%) and assorted South African companies. The project was expected to generate 89GWh annually. 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. The tender was open to all technologies, 53 bids were submitted of which 28 made it to preferred bidder status. These 28 project account for a total of 1,416MW if all are implemented. The EIA was passed (as was required for all bidders). There would be a 20 year PPA with the state owned utility, Eskom. The land was owned by: Droogfontein Communal Property Association, and leased to Mainstream. Solar resource measurements were done for 1 year by GL Garrad Hassan. EIA authorization received in November 2011. PPA was expected to be signed in April 2012. Commissioning was expected for October 2013, construction was expected to start in July 2012. Total project cost was ZAR 1.2 billion (USD 150 million), with commissioning expected for 2014. Senior debt was underwritten by Absa Capital. http://www.nersa.org.za/Admin/Document/Editor/file/Consultations/Electricity/Presentations/SA%20Mainstream%20Renewable%20Power%20(Pty)%20Ltd%20Farm%20No_%2062%20Droogfontein.pdf

Energy

World Bank Group

Project

Solar, Commercial, Power Generation (CCGT), Power Transmission, Government