SA fund buys into Touwsrivier

A close-up view of a Soitec CPV cell

A close-up view of a Soitec CPV cell

French concentrating PV (CPV) developer Soitec has been given the final go-ahead by South Africa's Department of Energy to change the financing structure of its 44MW Touwsrivier solar project.

The green-light clears the way for the South African government's employee pension fund (GEPF) to come on board as a 40% stakeholder in the development, with Soitec retaining a minority share.

Construction of the Touwsrivier CPV farm recently passed the half-way milestone, following commissioning of the first 22MW of modules.

"This investment will contribute to the country’s much needed alternative energy needs thus contributing towards easing the current electricity pressures the country is experiencing as well ensure good returns," says Daniel Matjila, chief investment officer at the Public Investment Corporation, which represents the GEPF.

Commercial operation of the Touwsrivier plant, for which a power purchase agreement was inked in 2012, is currently slated for Q2  2015.

Soitec’s CPV modules, which use banks of Fresnel lenses to focus sunlight 500-fold on to triple-junction cells, have shown efficiencies of 31.8% in the field.

The company's four-junction Concentrix CPV cell has achieved 44.7% efficiency in testing by Germany’s Fraunhofer Institute for Solar Energy.

Glennmont round raises €500m

01 September 2014 04:34 GMT

Scatec signs up for African projects

01 September 2014 03:57 GMT

Mainstream switches strategy

01 September 2014 12:29 GMT

Shunfeng snaps up Solarstrom

01 September 2014 10:13 GMT

IN DEPTH: The yieldco effect

01 September 2014 09:17 GMT

Sonnedix nabs first Japan PV funds

01 September 2014 04:49 GMT

China sales fail to help SolarOne

28 August 2014 02:04 GMT

US backs 300MW Myanmar solar

28 August 2014 01:05 GMT

Hareon unveils 600MW solar plan

28 August 2014 05:39 GMT

RET plan to 'smash investment'

28 August 2014 10:08 GMT

IEA warns of RE headwinds

28 August 2014 07:33 GMT

Kepco may build Korea-Japan cable

28 August 2014 06:22 GMT

NY governor weighs RE tax break

27 August 2014 10:48 GMT

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login


Recharge Monthly Magazine