Xina Solar One (Pty) Ltd

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The project consists of the construction and operation of a 100 MW greenfield concentrating solar power (“CSP”) project near the town of Pofadder, in South Africa’s Northern Cape Province (“Xina CSP,” or the “Project”). The Project is being developed by Abengoa Solar S.A. through its affiliate Xina CSP South Africa Proprietary Limited (“Xina Ltd”) and in partnership with the Industrial Development Corporation (“IDC”), the GEPF Renewable Energy Investment 1 Proprietary Limited (or “GEPF-REI,” a vehicle incorporated by the Government Employees Pension Fund and represented by the Public Investment Corporation (“PIC”)) and the Broad Based Black Economic Empowerment Trust (“BBBEE”). Abengoa Solar S.A.’s parent company, Abengoa S.A. (“Abengoa”) is a leading developer of renewable energy projects. CSP is a term used to describe a variety of technologies by which solar energy is concentrated onto a receiver to heat steam for use in industrial or electricity generation applications. Xina CSP is a 100 MW parabolic trough CSP plant, with approximately 5 hours of molten salt storage, located in South Africa’s Northern Cape Province with an estimated total cost of ZAR 9.5 billion (approximately US$867 million equivalent). The solar plant will be located on the land of farm Scuit Klip 92 and will feed power into the Eskom Paulputs substation located approximately 1 km from the site. The project company will be a special purpose vehicle – Xina Solar One (RF) (Pty) Ltd - and the plant will sell electricity to the state owned utility, Eskom, under a twenty year power purchase agreement.