Mulilo De Aar Solar Plant

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Mulilo Renewable Energy Solar PV De Aar (PTY) LTD was created to build, own and operate a 9.7 MW solar PV facility to be located in De Aar, South Africa. The project company was a joint venture between Gestamp Asetym Solar SL (60%), South African Mulilo Renewable energy (PTY) LTD(20%) and the remaining 20% was owned by Mulilo De Aar Solar Community (100% owned by Mulilo De Aar Solar Community Trust - funded by the Industrial Development Corporation IDC), a local community trust representing black-owned local businesses. Gestamp Asetym Solar SL was a subsidiary of Gestamp Solar (Spain), subsidiary of Corporacion Gestamp. The project consisted of 44,880 panels of 230W, manufactured by Trina Solar (China), and 20 inverters of 500kW manufactured by GP Tech (Spain). Mulilo Renewable Energy was part of the Mulilo Energy Group (South Africa), of which CSV Construction was a major shareholder. 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 project was to be connected to the De Aar 22kV substation. EPC and O&M contractor was to be Gestamp Solar Contracting (90% owned by Gestamp Asetym Solar SL, 10% owned by Rigamani Construction PTY LTD). The 22.5km 22kV transmission line was commissioned by Eskom. Solar resource measurements were executed by Garrad Hassan. Estimated project cost was USD 35 million, with commissioning expected in 2013. Funding was to be provided by NedBank Capital (50%) and Industrial Development Corporation (IDC) (50%). The debt/equity ratio was expected to be 70/30. http://www.nersa.org.za/Admin/Document/Editor/file/Consultations/Electricity/Presentations/Mulilo%20Renewable%20Energy%20Solar%20PV%20De%20Aar.pdf http://www.mulilorenewableenergy.com/About_us.html