South Africa: AfDB Approves loan for South African solar project
The African Development Bank has approved a US$142-million loan to help fund the construction of a $908-million, 100-megawatt (MW) concentrating solar power plant in the Northern Cape – the bank’s first loan for a renewable energy project by an independent power producer in South Africa.
A consortium led by Spanish company Abengoa was chosen to build the plant during the second round of the South African government’s renewable energy programme for independent power producers, which aims to add 17 800 MW from renewable sources to South Africa’s energy mix by 2030.
Abengoa is currently building two other solar plants in the Northern Cape: a 50 MW solar tower plant near the town of Upington, and a 100 MW parabolic trough solar plant, dubbed KaXu Solar One, near the town of Pofadder.
The new parabolic trough solar plant, Xina Solar One, will be located alongside KaXu Solar One, and according to Abengoa the two 100 MW plants will “jointly shape the largest solar complex in Africa”.