South Africa’s Coega Development Corp. expects more capital to flow into state-owned entity which develops and operates the Coega Industrial Development Zone (IDZ). The firm’s spokesperson Ayanda Vilakazi said that investments were expected to climb for 2012 as a result of expansion plans for the Coega IDZ, which will total nearly $88 million.
In Q3 2011 German company EAB Astrum Energy signed an agreement with Coega to develop a 13-MW PV farm with future plans to participate in the second round of the Department of Energy’s IPP Procurement process to become the preferred bidder. In addition, GDF Suez signed an agreement to construct a 330-MW power peaking plant in the IDZ. The French firm is waiting for a generating license and PPA before construction can commence.
The spokes person said that Coega’s investment account currently held an investment value of about $18 billion.
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