Page 22 - Energize February 2021

NEWS

Investing in another local CSP plant

NGIE has announced that it has Kathu Solar Park
reached an agreement to acquire
Efrom Abengoa a 40% equity stake
in Xina Solar One, a 100 MW concentrated
solar power (CSP) plant, as well as 46% of
the operations and maintenance company.
The plant is equipped with parabolic
trough technology and a molten salt
storage system which allows for five­and­
a­half hours of energy storage to provide
reliable electricity during peak demand.
Power is contracted through a 20­year
power purchase agreement with Eskom.
Xina Solar One supplies clean energy to
more than 95000 South African
households and prevents the emission
into the atmosphere of approximately
348000 t of CO2 each year.
The plant is located in the Northern
Cape, near the company’s 100 MW Kathu
CSP plant. Synergies between Xina and
Kathu will be developed to further
enhance the operational efficiency of both
plants, the company says.
“With the acquisition of this project,
ENGIE is pursuing its low carbon strategy.
Xina augments the country’s installed
peaking power and reduces its dependence producer with 1320 MW of installed term player in the South African power
on coal­fired electricity generation. The capacity” says Sébastien Arbola, the CEO of industry. This acquisition adds an
100 MW CSP plant also contributes to ENGIE MESCATA. innovative high­performing plant which
ENGIE’s geographic rationalisation by Mohamed Hoosen, the CEO of ENGIE increases the company’s CSP capacity.
expanding its footprint in South Africa, Southern Africa says that the company is “This investment will create value over
where it is the leading independent power valued as a highly skilled IPP and a long­ the longer term while accelerating impact
on the energy transition of our
Xina Solar One customers”, he says.
Co­shareholders on Xina Solar One
include the Public Investment
Corporation (PIC), which is a pension
fund manager and a shareholder in
ENGIE’s Kathu project (20%); the state­
owned Industrial Development
Corporation (IDC) (20%); and Xina
Community Trust, which is funded by the
IDC (20%). Xina Solar One, which started
commercial operations in August 2017,
was built by Abengoa.
Completion of the transaction is
subject to the fulfilment of certain
conditions including merger control
clearance from relevant competition
authorities.
The company also has interests in
the 94 MW Aurora wind farm, two solar
photovoltaic plants (21 MW) and two
thermal power peaking plants, Avon
(670 MW) and Dedisa (335 MW). n

Contact ENGIE,
engiepress.mescat@engie.com

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