25 March 2014

Soitec announces full commissioning of first 22MWp half of 44MWp South African CPV plant

Concentrating photovoltaic (CPV) solar system maker Soitec of Bernin, France says that its Touwsrivier solar power plant has fulfilled milestones set for commissioning 50% of its total capacity of 44MWp, confirming that it performs in accordance with contractual specifications and validates the power purchase agreements applied to the 44MWp plant.

As anticipated, the milestone will trigger refinancing of the project through availability of proceeds of the bond issued on the Johannesburg stock exchange in April last year.

Soitec says that, thanks to its local partners and suppliers, it is confident of completing what will be South Africa’s largest solar power plant in the coming months. Currently, more than 60% of the power plant has been installed.

Soitec reckons that achievement of the performance testing milestone demonstrates that its CPV technology is best suited for large utility-scale power plants in high-irradiance areas, which is one of the largest markets for solar power, confirming the bankability of the firm’s CP system for its announced pipeline of large-scale solar projects.

See related items:

South African Department of Energy grants preliminary approval to refinancing scheme for Soitec’s 44MWp solar project

Soitec completes inaugural solar financing bond transaction in South Africa

Soitec signs power purchase agreement for 44MWp CPV plant in South Africa

Soitec secures financing for 50MW CPV power plant in South Africa

Soitec selected as a preferred bidder under South Africa’s independent power producer program

Tags: Soitec CPV

Visit: www.soitec.com