South Africa’s Solar Capital signed its second IPP agreement with the country’s Department of Energy (DoE) on May 14 for a project in De Aar, Northern Cape.
The additional $270,000, providing jointly by Standard Bank and Industrial Development Corp., will provide jobs to over 700 people during the construction period and 200 permanent jobs. The project has 40% Black Economic Empowerment (BBEEE) shareholding which includes a local Community Trust holding of a 12.5% share.
The company started just five short years ago, delivering a solar panel technology with a lifetime of 25 years. Based in Cape Town, Solar Capital has built up a solid local and international reputation in renewable energy project development and is currently focusing on large solar power plants in Africa and Middle East region.
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