HomeNewsAssisting in financial close of two second round SA solar projects

Assisting in financial close of two second round SA solar projects

9 July 2013 – Renewable energy consulting group SgurrEnergy has supported two South African solar energy projects in achieving financial close. The 10 MW Aurora and Vredendal projects developed by SolaireDirect South Africa, are two of nine developments consented in round two of the South African Department of Energy’s (DoE) Renewable Energy Independent Power Producer Procurement Programme (REIPPP).

SgurrEnergy was selected by equity provider, Old Mutual Investment group, to provide a range of technical due diligence services during the projects’ development phase. Site visits, energy yield assessment, module factory inspections, system design, technology and grid connection reviews were carried out by the company’s solar, civil and electrical teams.

Sean Friend, infrastructure portfolio manager at Old Mutual says, “SgurrEnergy’s technical advisory work has been essential in progressing the Aurora and Vredendal solar projects to financial close. We’re pleased to have reached this significant milestone and we look forward to working closely with SgurrEnergy as the projects move into construction.”

Construction of the Aurora and Vredendal PV plants is due to commence shortly. The plants will be constructed in the Western Cape and will use locally sourced solar modules.

SgurrEnergy previously provided key technical advisory services to developer, Solar Reserve, to achieve financing for the REIPPP round one, 75 MW Letsasi and Lesedi solar plants, which will be amongst the first large-scale solar plants to be built in South Africa.