The Bethlehem Hydro project, valued at R77 million, will be funded in November after the development initially began in 2001. Bethlehem Hydro, established to see the project through to fruition, has acquired the full financing required for the development and construction of the project with additional loans provided by the Development Bank of Southern Africa.
The company has also contracted a firm from the Netherlands to manage the development and implementation of the project on its behalf.
The project’s main purpose is to generate hydroelectricity which will be distributed throughout South Africa. It will involve the development and operation of 7.0 MW of hydro generation capacity that will produce 37 Gwh per year, and will be comprised of two generation facilities.
The Bethlehem Hydro facility will decrease carbon dioxide emissions by displacing coal-fired electricity. NuPlanet, the Dutch project development company will control the structure and sale of the company’s greenhouse gas emission credits.
NuPlanet is looking to grow in the hydropower sector and is also in discussions with South African state-owned Eskom to sell hydropower through its Medium Team Power Purchase Program.
Nuplanet MD Anton-Louis Oliver said, “NuPlanet is constantly looking for other hydropower opportunities in South Africa, but because it is a very arid country, there are not always such opportunities.”