Google invests in South African solar energy plant
The development consortium consisting of SolarReserve, a US developer of utility-scale solar power projects; the Kensani Group, an investment player in South Africa; and Intikon Energy, a South African developer of renewable energy projects, has successfully closed project financing for the Jasper Solar Energy Project – a 96 megawatt (MW DC) solar photovoltaic (PV) project. The Jasper Project is located in the Northern Cape of South Africa near Kimberly, and was selected by the South Africa Department of Energy (DOE) in May of 2012 in the second round of bids under the South Africa Renewable Energy Independent Power Producer Procurement Program (REIPPPP). The project also marks Google‘s first renewable energy investment in Africa – the Internet search giant has invested US$12 million (122 million Rand*) investment.
Equity investment for the project was provided by Google, the Public Investment Corporation (PIC), Kensani Capital Investments, SolarReserve, Intikon, Development Bank of South Africa and the P.E.A.C.E. Humansrus Fund, with Rand Merchant Bank providing preference share equity.... Read the full, comprehensive news article and discuss at My Broadband