Juwi bags contract from AIIM for 250MW solar power plants in South Africa
Solar industry news : African Infrastructure Investment Managers (AIIM) has given contracts to Germany-based renewable energy company Juwi Renewable Energies, worth ZAR 3 billion ($210 million) to construct and operate three solar power plants in South Africa, with a combined capacity of 250MW.
The contracts bagged by Juwi Renewable Energies in this regard are for the engineering, procurement and construction (EPC) and operation & maintenance (O&M) of the 86MW Waterloo Solar Park, the 78MW Bokamoso Solar Park and the 86MW Droogfontein 2 Solar Park.
AIIM’s IDEAS Managed Fund had acquired a stake of 50.01% in the three South African solar power plants, which are being developed under South Africa’s Renewable Energy Independent Power Producer Procurement programme (REIPP) Round 4.
The Waterloo Solar Park will come up in the North West Province, near Vryburg, the Bokamoso Solar Park will be built in the same province near Leeudoringstad while the Droogfontein 2 Solar Park will be located near Kimberley.
As part of the contracts, Juwi Renewable Energies will also be responsible for the operation and maintenance of the three solar power plants in South Africa for a period of five years.
Greg Austin – Juwi Renewable Energies MD, commenting on the contract for the three solar power plants in South Africa, said: “We are delighted to have closed the EPC and O&M contracts and the associated agreements with AIIM, together with their equity and debt partners. For Juwi, this represents a major milestone as the addition of this 250MW triples our existing portfolio of solar PV projects constructed and operated in South Africa.”
Financial close on all the three South African solar power projects was achieved recently to allow them to move into the construction phase, which is expected to create about 1600 roles. The solar power plants are backed by debt funding from Absa and Nedbank.
While construction at the Droogfontein 2 Solar Park will begin in the third quarter of this year, the Bokamoso Solar Park and the Waterloo Solar Park will break ground in Q4 2018 and Q1 2019, respectively.