Soitec signs PPA for 44-MWp South African CPV plant
Nov 6, 2012 - French silicon-on-insulator wafers maker Soitec (EPA:SOI) said Monday it had signed a power purchase agreement (PPA) for its planned 44-MWp concentrator photovoltaic (CPV) solar facility in South Africa.
The Touwsrivier power plant will be built in the Western Cape, close to the Aquila Private Game Reserve.
The signing of the agreement with South African state-owned utility Eskom and its approval by the South African Ministry of Energy would allow Soitec to seek refinancing for the project before launching construction. The plant is scheduled to be completed in 2014, but electricity generation will begin as early as mid-2013.
The approval of the Touwsrivier project is part of the South African Department of Energy’s plan to achieve 42% share for renewable energy generation in the country by 2030. In order to meet this goal, South Africa would have to install 3,725 MW in green energy capacity, including 1,450 MW of solar.