The Ilangalethu Solar Power project, based in Uppington, South Africa, reached financial close on February 12, 2015.
The project involves the development of a parabolic trough solar power facility in the Northern Cape, as part of South Africa’s Renewable Energy Independent Power Procurement Programme (REIPP). Construction is projected to take 4 years, and will operate for 20 years under the current PPA.
In connection with this project, Operis completed a high-level review of the financial model as part of the financial close process. The review was performed on behalf of the shareholders and lenders, which included Investec, Nedbank and Standard Bank.
