Neusberg Hydro Electric Plant

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10MW Neusberg Hydro Electric Plant reached financial closure by securing a syndicated loan of US$42.62 million arranged by Nedbank (50%) and Industrial Development Corporation (50%). This BOT project would involve the development of a run-of-river hydroelectric power plant with an installed capacity of 10 MW . The produced electricity from this BOO project would be supplied to and sold to the national grid of Eskom via a Power Purchase Agreement under “Independent Power Producer Procurement Program (IPPPP). The estimated total cost of the project amounts to USD56 million and would consist of three turbines and the associated infrastructure. The project company of the project is Kakamas Hydro Electric Power, a consortium comprising Hydro Tasmania, Old Mutual and the Kakamas Community Trust funded by the Industrial Development Corporation. In October 2013, Entura officially started construction of the project and the scope of work would encompass the whole lifecycle of the project from design through construction and ongoing support for the operation and maintenance after completion in January 2015. This project was expected to generate 71.9 GWh of base load energy per year with a capacity factor of 82%, enough to provide power to around 5,000 households. http://www.esi-africa.com/wp-content/uploads/i/p/Nick-West_Hydro.pdf USD1 = ZAR 9.655056069