Pan Africa Solar Signs First Solar PPA with NBET, Plans $1bn Investments
Pan Africa Solar, a utility scale solar energy company, on Monday said it is developing a 1,000 megawatt portfolio of solar projects in Nigeria and is also developing a plan to bring more than $1 billion of foreign direct investments into the country over the next five years.
Marcus Heal, the company's CEO, stated this in Abuja when the federal government, through the Nigeria Bulk Energy Trader (NBET), and Pan Africa Solar signed Nigeria's first ever solar power purchase agreement (PPA). The PPA signed with NBET was to pave way for the commencement of the 75mw solar photovoltaic power project, located in Katsina State worth $146 million. When completed, energy produced from the plant projected to be commissioned in 2017, will be sold for a tariff of 11.5 cents per kWh.
Pan Africa Solar says that once commissioned, this 75mw solar project will be the largest of its type in Sub Saharan Africa (excluding South Africa) and will provide power for 1.1 million Nigerians. A consortium of sponsors for the project is made up of Pan Africa Solar, JCM Capital and the African Finance Corporation (AFC). The FMO are the lead arrangers of debt raised from the development finance institutions that include DEG and Proparco. The project is also receiving support from the World Bank, Power Africa and MIGA.
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http://mybroadband.co.za/news/general/114001-massive-south-african-solar-plant-comes-online.html
Jasper PV Project overview
- Location: near Kimberley, South Africa
- Technology: Photovoltaic (PV)
- Size: 96 MW-DC installed capacity; 75 MW-AC net generation
- Electricity Production: approximately 180,000 MW-hours annually
- Power Purchaser: 20-year government supported PPA with Eskom
- Homes Powered: 80,000 homes
Massive South African solar plant comes online
96 megawatt solar photovoltaic (PV) project helps power the South African electric grid with renewable energy
SolarReserve, a global developer of solar power projects and solar thermal technology, announced that the 96 megawatt (MW) photovoltaic (PV) Jasper solar power project is fully operational.
Jasper is located in South Africa's Northern Cape in a solar park that also includes the 75 MW Lesedi solar power project which came online in May.
"In addition to helping South Africa meet its critical electricity needs, the Jasper Project will bring long lasting economic benefits to the region," said SolarReserve's CEO Kevin Smith.
With over 325,000 PV modules, the Jasper Project will deliver 180,000 megawatt-hours of renewable electricity annually for South African residents.
The power generated is enough to power up to 80,000 households through a 20-year power purchase agreement with Eskom.
The project also marked Google's first renewable energy investment in Africa – the Internet search invested US$12 million in the solar project.
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