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South Africa : BACKING for 100MW solar thermal plant secured by South Africa

August 8, 2014

A 100 MW solar thermal plant planned for South Africa's Northern Cape, ready to be one of the first privately possessed renewable projects in the country, has obtained financial backing from two development banks.

South Africa's development bank and the European Investment Bank have declared a $A150 million finance contract to assist the! Ka Xu 100 MW concentrated solar project, which is likely to cost $A800 million.

The development bank said, The South African energy sector is faced with a number of challenges. And as the Development Bank of South Africa, we are encouraged by the EIB s trust and confidence towards our investment strategy in supporting South Africa´s power generation infrastructure to improve the security of energy supply and optimise the energy mix which is much needed to accelerate the economic growth of South Africa .

"Once fully developed the !Ka Xu concentrated solar thermal plant will collect solar energy using parabolic trough technology and convert it into electricity in the steam cycle. Through a built-in molten salt storage system or the thermal energy storage, the plant will have capacity to store energy during off peak hours and dispatch it during peak hours."

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Source: TendersInfo (India)

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