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JOHANNESBURG (Capital Markets in Africa) – In a bid to light up Africa, Solar Capital has partnered with a US government-led initiative, Power Africa.
The US government launched Power Africa in 2013 to double access to electricity in sub-Saharan Africa by 2030.
This vision is being achieved by bringing over 140 public and private sector partners together to help advance power sector deals. Power Africa aims to deliver 30000MW of electricity and to add 60 million new home and business connections throughout sub-Saharan Africa.
Paschal Phelan, chairperson of Solar Capital said that his company was assisting Power Africa in its ambitions by producing 175MW of power from the two-phase solar PV facility near De Aar in the northern Cape of South Africa.
Solar Capital’s two-phase solar PV project was awarded through the South African Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme.
The programme is a leading flagship public-private programme which focuses on competitive bidding prices for 20-year contracts, with an inspired localised social and economic programme. Ninety-two projects have so far been selected during the various bidding windows, offering a total of 6 327MW, while the Department of Energy aims to produce 17 800MW by 2030.
According to Phelan, Solar Capital will continue its expansion of solar power in Africa in 2017 through the construction of another 75MW facility in the Northern Cape.
Phelan said that Power Africa recognises the value of a renewable energy programmes, as well as the importance of building strong relations with private sector partners in order to achieve their aim of power expansion.”
Solar Capital looks forward to a joint collaboration with Power Africa in providing electricity to areas in need in sub-Saharan Africa,” he said.
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