France-based solar power producer Sonnedix said today it has sealed all main project contracts for its 86-MW solar scheme in South Africa and expects to begin construction this quarter.
The company now has in place project financing deals with Nedbank Group Ltd (JSE:NED) and Standard Bank Group Ltd (JSE:SBK) as well as an engineering, procurement and construction (EPC) contract with the local unit of Germany’s Juwi AG.
Also, it has signed a power purchase agreement (PPA) with domestic public utility Eskom Holdings SOC Ltd for the output of the solar farm.
Sonnedix has developed the project alongside local sector player Mulilo, which holds a minority stake in the scheme. The 86-MW photovoltaic (PV) plant will be built in the Northern Cape of South Africa.
The country’s department of energy picked the project under the third bidding round of the national renewable energy procurement programme in October 2013.
SeeNews Renewables | Jan 5, 2015