Soitec CPV Solar Plant

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The Soitec - CPV Solar project was a 50 MW concentrating solar PV project to be located in Touwsriver, South Africa. The project was a joint venture between the French solar developer Soitec (60%) and various South African investors (40% collectively). The project would use the proprietary CSP technology owned by Soitec. The project was located near the 700kW pilot Soitec pilot project. 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. Total project cost was estimated at roughly USD 150 million, with an intended debt ratio of 70%. Commissioning was scheduled for 2014. The project reached financial closure in February 2012 with Investec bank, from South Africa. http://www.onlinetenders.co.za/news.aspx?id=1540 http://www.nersa.org.za/Admin/Document/Editor/file/Consultations/Electricity/Presentations/CPV%20Power%20Plant%20No%201.pdf http://www.rechargenews.com/energy/solar/article303006.ece