Soitec in $110m CPV bond boost

A close-up view of a Soitec CPV cell

Soitec's technology in close-up

French concentrating PV group Soitec has sucessfully placed a 1bn rand ($110m) bond for its 44MW Touwsrivier project in South Africa, in a landmark deal for the fledgling CPV sector.

Deloitte & Touche advised on the bonds while Standard Bank of South Africa acted as lead manager, book runner and debt sponsor for the offering, which was deemed investment grade by the ratings agency Moody’s.

The bonds were snapped up by a “diverse pool” of South African institutional investors, pension funds and assets managers, says Bo MacEwan, associate director of corporate finance at Deloitte & Touche.

Ompi Aphane, deputy director of South Africa’s Department of Energy, says the deal “opens an entirely new field of project funding to the solar indjstry Log in to read complete article.

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