SolarReserve completes Africa's largest photovoltaic plants

solar panel schwarzerkater flickrSolar power project developer SolarReserve has completed two 75MW photovoltaic projects, which will power the Eskom South African electric grid with renewable energy

The Lesedi and Letsatsi projects, with a combined installed capacity of 150MW, are capable of providing 130,000 South African homes with clean energy, stated Solar Reserve. These two plants, along with Scatec Solar AS' Kalkbult plant are the largest photovoltaic (PV) plants in the African subcontinent.

Lesedi and Letsatsi, located in the Northern Cape and Free State, have a 20-year power purchase agreement (PPA) with Eskom, South African power utility company, Solar Reserve stated.

According to the mandate by the South African Renewable Energy Independent Power Producer Procurement Program (REIPPPP), the projects have set aside a percentage of total project revenues for enterprise and socio-economic development, which will be invested for the benefit of the local communities.

Kevin Smith, CEO of SolarReserve, said, "The social and economic benefits that these projects are imparting in South Africa today demonstrate the positive results of close cooperation between the U.S. and South African governments along with private companies in each nation.

"We look forward to continuing this positive momentum through collaboration on further projects, including concentrated solar thermal power (CSP) plants, featuring SolarReserve's industry-leading CSP technology with integrated energy storage."

The projects were developed and financed by a consortium including SolarReserve, the IDEAS Managed Fund (managed by Old Mutual Investment Group South Africa), the Kensani Group (an experienced empowerment investment player in South Africa), GCL Poly Energy Holdings and Intikon Energy, added the solar company.

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