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SOLA Future wins 10MW of solar IPP projects

SOLA Future Energy, together with it’s affiliate development company Aurora Power Solutions, has been awarded 2 x 5MW IPP projects which will be constructed mid-way through 2016. The projects, which represent a capital cost of around R250m, are part of the Small IPP procurement program administered by the Department of Energy in South Africa. Together with theIDCandMergence who are providing debt,  the projects are fully funded and controlled within the Aurora Group. SOLA Future will provide EPC and operation services to the project company. “This is an exciting development and we are very glad that the government has finally awarded the projects after lengthy delays,” says Dom Chennells financial director of SOLA Future. Aurora Power Solutions will provide financial backing to the project which will also have a Black Local Community Trust as a beneficiary and shareholder.

The projects are located in the Northern and Western Cape and will take up approximately 20Ha of otherwise unused land.

Eskom will purchase all the power produced by the plant based on a 20 year Power Purchase Agreement entered into between the parties.

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