Juwi Renewable Energies, part of renewables developer Juwi Group, has sealed ZAR 3 billion (USD 206m/EUR 181m) worth of contracts to build, operate and maintain 250 MW of solar parks in South Africa.
The three engineering, procurement and construction (EPC) deals with private equity fund manager African Infrastructure Investment Managers (AIIM) cover three separate photovoltaic (PV) projects. Those are the 86-MW Waterloo and the 78-MW Bokamoso solar plants, both to be located in North West Province, as well as the 86-MW Droogfontein 2 PV farm in the Northern Cape.
Juwi expects to start building the Droogfontein 2 park in the third quarter, while construction at the Bokamoso and Waterloo sites is slated to begin in the last quarter of 2018 and first quarter of 2019, respectively. Following completion, the German firm will deliver operation and maintenance (O&M) services for the facilities for an initial five-year term.
“The finalisation of these contracts indicates that the government sees a future in renewable energy in South Africa and it’s given the investor community confidence in an area that has been lacking in the past two years,” said ACED’s CEO Richard Gordon.
The three projects, in which AIIM’s IDEAS Managed Fund is a majority owner, were awarded in Round 4 of the South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). They reached financial close last month.
(ZAR 10 = USD 0.685/EUR 0.604)
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