A $37 million senior debt restructuring has been completed on the 11MW Aries and 11MW Konkoonsies solar power plants in South Africa, allowing for a significant reduction in wholesale electricity prices from the plants. The Aries Solar Power project is located 36km southwest of Kenhardt in the Northern Cape and generates 22,000 MWh annually, which is fed into the country’s national grid. The Konkoonsies Solar Power plant, located 32km north east of Pofadder in the Northern Cape, assists in helping South Africa shift towards clean energy production by generating 11MW of sustainable solar power. Loadshedding led to an ‘unprecedented wave of solar installations’A significant benefit for South Africa’s customersThe two solar plants commenced operation in 2014 as part of South Africa’s Renewable Energy Independent Power Producer Procurement Programme. “Overall, Globeleq has now restructured six of our eight plants in South Africa using the Department of Mineral Resources and Energy’s IPP Office Refinancing Protocol,” said Scholey.

Source: The North Africa Journal January 25, 2024 11:21 UTC