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    ABO Wind sells two 100 MW solar projects in South Africa


    September 16, 2022 - Contify Energy News

     

      The Wiesbaden-based project developer ABO Wind has sold two South African solar projects, each with an output of 100 megawatts. The buyer, the South African SOLA Group, has already concluded a power purchase agreement (PPA) under private law with the mine operator Tronox for the projects. According to the investor, these are the largest renewable energy projects in Africa to date, which are financed via a private PPA for renewable energies. So far, most renewable energy projects in South Africa have received a government-subsidized tariff that is awarded through a tendering process.

      Original Press Release:

      Wiesbaden, Cape Town, Sept. 14 -- ABO Wind issued the following news release:

      The Wiesbaden-based project developer ABO Wind has sold two South African solar projects, each with an output of 100 megawatts. The buyer, the South African SOLA Group, has already concluded a power purchase agreement (PPA) under private law with the mine operator Tronox for the projects. According to the investor, these are the largest renewable energy projects in Africa to date, which are financed via a private PPA for renewable energies. So far, most renewable energy projects in South Africa have received a government-subsidized tariff that is awarded through a tendering process.

      The switch from coal to solar energy for the energy-intensive mining of mineral sands is groundbreaking. In the long term, the solar power from the two 100-megawatt projects will reduce the mine operator's global CO2 emissions by around 13 percent compared to 2019. Construction is imminent to begin and SOLA plans to commission the projects in 2023.

      "These project sales are our first major success in South Africa," says Robert Wagener, the ABO Wind department head responsible for the country. "We are particularly pleased because these are the first projects with which we have started our development activities in South Africa." The purchase agreements had already been concluded in 2021. After the development of the projects has reached certain milestones, the contracts have now become binding.

      “Working with ABO Wind brings us closer to our goal of advancing clean energy in Africa. We are proud that the projects are now fully South African owned and financed, built, operated and managed right here in the country,” says Chris Haw, Co-Founder and Managing Director of the SOLA Group. SOLA Group is a vertically integrated, independent power producer and a leader in providing clean energy solutions to private companies in Africa. SOLA's mission is to transform Africa through clean energy.

      The completion of the sale gives a boost to the activities of the 16-strong Cape Town-based ABO Wind team. The company has been active in South Africa since 2018 and is currently working on wind and solar projects with a total output of four gigawatts. With 2.1 gigawatts of installed solar and 2.9 gigawatts of wind energy capacity, the country is the leader on the African continent. In 2021, 515 megawatts of wind energy capacity was added - despite the restrictions imposed by the pandemic, which has hit the country particularly hard. The government is aiming for a further rapid expansion of renewables. Significant growth is also becoming apparent for photovoltaics. In order to counter the energy crisis, President Ramaphosa recently doubled the volume of the upcoming auction round for wind energy to 3.2 gigawatts; another 1. 000 megawatts are tendered for photovoltaic projects. ABO Wind is preparing the participation of several projects in the upcoming tenders.

      Disclaimer: The Above Content is Auto-Translated

      Source: ABO Wind

      [Category: Energy]

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