International business law and litigation firm Fasken Martineau has announced that the 50 MW concentrated solar power (CSP) facility in Bokpoort, Northern Cape, South Africa has been recognized as the African Renewable Deal of the Year 2013 by Project Finance International, published by Thomson Reuters.
That group tracks project finance activity across all sectors on a global basis. The Bokpoort CSP financing project took top spot over more than 30 renewables projects that also closed in 2013 from across the African continent.
The project was procured pursuant to the Renewable Energy Independent Power Producer Procurement programme initiated by the South African department of energy. This was a greenfield project, developed on a build, own and operate (BOO) basis located and in addition to a net generation capacity of 50 MW has nine hours of thermal energy storage. Once completed it will be a CSP power plant with the longest amount of thermal storage in the world.