Connect with us

Hi, what are you looking for?


Clean Power

Abengoa Secures Financing For 100 MW Solar Thermal Power Plant In South Africa

Abengoa has reported progress on its third solar power project under South Africa’s ambitious Renewable Energy Independent Power Producer Procurement program.

Abengoa secures debt funding for 100 MW CSP project

Abengoa Solar’s parabolic trough collectors in Seville, Spain

The Xina Solar One concentrated solar power project has secured debt financing, the owner and developer of the project, Abengoa, has announced. The project, with a capacity of 100 MW, was secured by the company during the third auction under the Renewable Energy Independent Power Producer Procurement (REIPPP) program.

Abengoa will also integrate 5-hour storage based on molten salts. The project would require a total investment of $1 billion and will be supported by several banks and financial institutions. The project will get debt financing from African Development Bank, the International Finance Corporation, Industrial Development Corporation, and the Development Bank of Southern Africa; and local private banks such as RMB, Nedbank, and ABBA.

The power plant will be set up in the Northern Cape province where two other solar thermal projects are being constructed by Abengoa. The construction on the project has already begun and it is expected to be commissioned by the third quarter of 2017. Once operational the project will generate enough electricity to fulfil the demand of 90,000 households and offset almost 400,000 metric tonnes of CO2e.

Abengoa is already working on two other CSP projects that it had secured bids for during earlier auctions of REIPPP program. Work on the 100 MW Kaxu Solar One and the 50 MW Khi Solar One CSP plants is in advanced stages.

The REIPPP program has been very successful and several domestic and international companies have participated in the three rounds of auction conducted by the South African government. All the companies that secured the bids to set up projects have signed power purchase agreements with Eskom. Together, all these projects will have a cumulative capacity of about 18 GW and will push the share of renewable energy significantly higher in South Africa’s electricity mix.

Recent completion of large-scale solar power plants that had been allocated through auctions has pushed South Africa into the top 10 markets for utility-scale solar power globally.

Image Credit: Abengoa Solar

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Mridul currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.


You May Also Like

Clean Power

South Africa’s grid is dominated by coal. According to the Council for Scientific and Industrial Research (CSIR), published in its latest “Statistics of utility-scale...

Clean Power

SolarPower Europe and the South African Photovoltaic Industry Association (SAPVIA) have signed a Memorandum of Understanding (MoU) to strengthen cooperation and explore new business opportunities for...

Clean Power

Why bury old coal power plants in the ground when you can repurposed them as super-duper energy storage systems?


South Africa’s electricity utility company Eskom has been working with other stakeholders to promote adoption of EVs in South Africa. One of the stumbling...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.