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Posted by on Sep 17, 2013 in Recent News | 0 comments

Financing renewable energy – Standard Bank

South Africa has a high level of renewable energy potential and the South African Government’s Renewable Energy Independent Power Producer Procurement (REIPPP) Programme is a mechanism to promote the development of renewable energy sources. South Africa aims to secure a total of 17 800 megawatts of renewable energy by 2030. Standard Bank Group (SBG) is committed to helping to establish a renewable energy sector in South Africa. We are active in advising, arranging finance for and funding renewable energy projects under the REIPPP Programme and we are dealing with a large number of project developers to this end. Renewable energy projects currently represent a third of our project finance energy portfolio and include wind, hydro and geothermal power stations. Standard Bank was the sole mandated lead arranger and underwriter on the following two projects. Herbert WW24 is a 20 megawatt photovoltaic project located in the Northern Cape Province of South Africa. It has signed a power purchase agreement with Eskom and will begin supplying Eskom with electricity as early...

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Posted by on Mar 13, 2013 in Recent News | 0 comments

33MW solar duo for Northern Cape

AE-AMD Renewable Energy is to develop two ground-mounted solar schemes totalling 33MW in South Africa’s Northern Cape. The developer, which is a joint venture between Spanish outfit AMDA energia, South Africa’s Alt-E Technologies and SunPower company Tenesol, will use 138,000 Tenesol TE 240 photovoltaic solar panels on single-axis trackers for the projects. Read more...

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Posted by on Mar 13, 2013 in Recent News | 0 comments

Work underway on AE-AMD projects; BYD wins 110MW PV order

Work is underway on two ground-mounted PV projects totalling 33MW being brought forward under South Africa’s Renewable Energy Independent Power Producers Procurement Programme. The two projects, both near Douglas in the Northern Cape Province, are being developed by AE-AMD Renewable Energy, a South African joint venture comprising Spain’s AMDA energia, South Africa’s Alt-E Technologies and Tenesol, part of SunPower. South Africa’s energy department signed off final financing deals for the projects at the end of November, allowing the construction to go ahead. Work has already begun on the 22MW Herbert project, while the 11MW Greefspan plant will begin in the coming weeks. Read more...

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Posted by on Mar 8, 2013 in Recent News | 0 comments

AE-AMD Renewable Energy And Tenesol/SunPower

AE-AMD Renewable Energy – a joint venture between the Spain-based AMDA Energia and the South Africa-based Alt-E Technologies – and Tenesol – a SunPower company – have teamed on two ground-mounted PV projects in South Africa. Tenesol will construct both installations, which will be located near Douglas, South Africa in the Northern Cape Province. They will feature 138,000 Tenesol TE 240 photovoltaic solar panels on single-axis trackers. The first project, Herbert, totals 22 MW. The second, Greefspan, totals 11 MW. Construction on Herbert has begun, and construction on Greefspan is expected to begin in the coming weeks. Both Herbert and Greefspan are being built as part of the South African government’s Independent Power Producers Procurement Program. Completion for both projects is expected in the second quarter of 2014. Read more...

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Posted by on Mar 8, 2013 in Recent News | 0 comments

SunPower Helps Water Plant Go Solar

SunPower Corp. ( SPWR ) has installed a 7.5-megawatt high efficiency solar power system on the Lake Pleasant Water Treatment Plant located in the city of Phoenix. This water treatment plant has the capacity to generate 15 billion gallons of tap water each year. This installation will be the largest and will likely meet 70.0% of the plant’s electrical power needs. Solar power system consists of 22,936 solar panels, which are being used to save approximately 15 million kilowatt-hours (“kWh”) each year. As compared to the conventional kind of electricity, the use of this system will save approximately $4.2 million over a span 20 years. At the Lake Pleasant Water Treatment Plant, a 6-megawatt ground-mounted solar array will be installed with a SunPower T0 Tracker system. This tracker system will absorb sunlight by more than 25% in comparison to conventional fixed-tilt systems as it positions the solar panels well to follow the sun’s movement during the day. Read more...

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