Abengoa to build 150 MW of solar capacity in South Africa
Dec 8, 2011 - Spanish diversified holding group Abengoa (MCE:ABG) said it would develop two concentrating solar power (CSP) projects worth around EUR 1 billion (USD 1.34bn) in South Africa with a combined capacity of 150 MW.
The company was chosen as the preferred bidder in a tender launched by South Africa's Department of Energy in line the country's plans to have 17,800 MW of renewable energy capacity by 2030 and to trim its dependence on oil and natural gas. South Africa gave the green light to Abengoa's 50-MW Khi and 100-MW KaXu projects, 18 solar photovoltaic projects and eight onshore wind proposals with a total capacity of 1,415.52 MW.
Abengoa will own a 51% interest in each of the projects, while the balance of 49% will be in the hands of South Africa's largest development finance institution Industrial Development Corp (IDC).
The Khi Solar One solar tower is estimated to prevent 183,000 tonnes of carbon dioxide emissions a year. It will have two hours of thermal storage, while the KaXu Solar One project will be able to store energy for up to three hours. The latter is seen to prevent 315,000 tonnes of carbon dioxide emissions annually, Abengoa said. Both installations will use technologically advanced dry cooling systems to significantly reduce water consumption.
Abengoa has 1,010 MW of solar capacity under construction globally and 393 MW of solar power installations that are already operating.