- Learnings from 50 REIPP
projects, Richard Doyle, Managing Director, 3E, South Africa
Earlier, Solar Capital has been awarded a 90MW solar farm project and an 86MW photovoltaic farm in the REIPP
Rentia van Tonder, Head of Renewables for Standard Bank, said, The buy-in by banks to the entire REIPP
programme demonstrates the understanding by the country s financial institutions that innovative funding models can have a profound and positive influence on environmental sustainability.
The Managing Director at juwi South Africa - Greg Austin stated, We are proud to be preferred EPC contractor for one of the six solar PV projects within the third round of the Department of Energy s REIPP
The 134.4MW Amakhala Emoyeni project forms a part of the developments under the Round 2 of the South African REIPP auction process, which received nods from the South African Ministry of Energy in May last year and is equipped with a power PPA for 20-year period.
The subsequent bidding rounds under the South African REIPP auction process is slated to take place in this August.
The bank has already played a leading role in debt and equity finance of South Africa's Renewable Energy Independent Power Producer (REIPP
) procurement process.
Standard Bank Group has emerged as the leading investor in the first round of South Africa's renewable energy independent power producer (REIPP
) procurement process, backing a total of 11 wind and solar projects.
The successful bids from Phase 1 of South Africa's Renewable Energy Independent Power Producers Procurement Programme (REIPP
Programme) reached financial close on Monday, moving the country closer to its goal of generating 42% of all new electricity from renewable energy sources over the next 20 years.
With its historic Renewable Energy Independent Power Producers (REIPP
) auction project now under way, US based solar, wind, and renewable energy technology firms and project developers, and also those from China, Germany, India and other countries, are keen to expand globally and engage in South Africa's nascent renewable energy market.
The project came about in response to the new Renewable Energy Independent Power Producer Program (REIPP
), a South African government initiative that aims to increase investment in renewable energy production, especially solar power, with a goal of having 3725MW online by 2016.