Redstone Concentrated Solar Thermal Power (CSP) plant

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The project involves the development, construction and operation of the 100MW Redstone concentrated solar thermal power (CSP) plant, located in the Hay District, 30 km from Postmasburg in the Northern Cape province, South Africa. The project is part of the South African Renewable Energy Independent Power Producer (REIPP) Procurement Program. The produced energy will be sold to the South African state-utility Eskom under a 20 year PPA.The SPV is Solarreserve Redstone Solar Thermal Power Plant (Pty) Ltd, owned 50% by ACWA Power, Aventro, CEF, KDI, Pele Green and a local community trust. The total project cost is around $ 826.3 million. Of the total debt package of $ 698.92 million, provided by FMO , African Development Bank, DEG, Industrial Development Corporation of South Africa, ABSA Bank, Development Bank of Southern Africa, Investec, CDC Group, ICBC and Sanlam. Financial close was announced on May 10, 2021. The EPC contractor is Northwinds Trading (Pty) Ltd Realfin https://www.afdb.org/en/news-and-events/press-releases/south-africas-largest-renewable-energy-project-redstone-csp-achieves-first-debt-draw-down-49098 https://www.bii.co.uk/en/news-insight/news/cdc-group-commits-us-50-million-to-100mw-renewable-power-project-in-south-africa/ https://www.dbsa.org/press-releases/south-africas-largest-renewable-energy-project-redstone-csp-achieves-first-debt https://ijglobal.com/articles/155195/redstone-csp-reaches-financial-close