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A consortium led by Saudi Arabian electricity and desalinated water producer ACWA Power International (ACWA Power) has confirmed the completion of financing and commencement of construction of the BOKPOORT concentrated solar power project in the Northern Cape Province of Johannesburg in South Africa
Other members in the consortium included the South Africa’s Public Investment Corporation (PIC), Lereko Solafrica Investment, Lereko Metier Solafrica Fund 1, Lereko Metier Sustainable Capital Fund, Kurisani Solafrica Investments and Solafrica Community Investment.
The 50MW BOKPOORT project will be equipped with a thermal storage for a solar power plant. The plant thermal storage capacity will be 9.3 hours, enabling it to yield a generation in excess of 200GW hour per year, well into the night every day, throughout the year.
The construction will be undertaken by a consortium of engineering, procurement and construction contractors composed of TSK Electrónica y Electricidad, Acciona Infrastructuras, Acciona Ingeniería, Sener Ingeniería y Sistemas, and Crowie Concessions of South Africa.
The operation and maintenance of the power facility will be undertaken by a consortium led by NOMAC, a subsidiary of ACWA Power and Invest In Africa Energy Services.
The off-taker of the produced electricity will be Eskom Holdings, a government-owned national utility.
BOKPOORT has partnered with Investec Bank and Absa Bank as mandated lead arrangers to the project and who, together with Old Mutual Specialised Finance, will be providing the senior debt funding requirements of the project.