Global Leader in International Renewable Industry News

posted in:

  • Home>
  • Renewable News
  • >
  • Africa,
  • >
  • BioTherm Energy announces financial closing of three South African renewable energy projects

BioTherm Energy announces financial closing of three South African renewable energy projects

Wednesday, Nov 21, 2012

BioTherm Energy, one of South Africa’s leading renewable energy developers and independent power producers, announced today that it has closed on the financing of one wind and two solar PV renewable energy projects located throughout the country. Led by chief executive officer Jasandra Nyker, BioTherm is the only South African company to be awarded three projects from the first round of South Africa’s renewable energy tender.

“These three projects represent a pivotal point for our company”

Construction of the projects, which are anticipated to produce a total combined output of 47 megawatts, will begin immediately. The Dassiesklip Wind Energy Facility will be located in Caledon, Western Cape and have an installed capacity of 27 megawatts. The Aries Solar Energy Facility, located in Kenhardt, North Cape, is expected to produce 10 megawatts. BioTherm’s second solar project is the Konkoonsies Solar Energy Facility located in Pofadder, Northern Cape. Its anticipated output is also 10 megawatts. Both solar projects have expansion capacity—supporting the company’s strategy to initially construct smaller-sized projects with a shorter timeframe to commercial operation and focusing long-term on larger-scale projects.

“These three projects represent a pivotal point for our company,” said Nyker. “We are a proud South African company and look forward to being an integral part of the government’s focus on bringing competitively priced renewable energy resources online for the people of our country.

Our management team has more than 100 years of wind and solar development and investment expertise, and we are uniquely positioned as one of the few developers with access to capital—a key element to opportunistically acquire projects for future development.” Nyker went further to note that the price of wind power today is more competitive than the future tariff rates requested by the state utility (Eskom) in a recent regulatory filing.

With a focus on renewable power in all of Southern Africa, BioTherm has an extensive pipeline of wind and solar projects in development totaling an estimated 2,400 megawatts. The company is partnering with reputable broad-based black economic empowerment partners and is backed by Denham Capital, a leading global energy and resources-focused private equity firm with US$7.3 billion of committed and invested capital.

Source: Business Wire

posted in:

  • Home>
  • Renewable News
  • >
  • Africa,
  • >
  • BioTherm Energy announces financial closing of three South African renewable energy projects

Other Renewable News

Everblue awarded IREC Training Program Accreditation for solar installer and sales courses 21-04-2014
JinkoSolar files 2013 annual report on Form 20-F 21-04-2014
Trina Solar announces grid connection for 23.8 MW PV projects in UK 18-04-2014
Hannon Armstrong ("HASI") and Sol Systems collaborate to deploy up to $100 million of debt financing for distributed solar project developers in 2014 18-04-2014
EasySolar announces the all-in-one solar power solution 17-04-2014
Three International wind power exhibitions to take place in Shanghai in July 2014 17-04-2014
Bharat Light & Power selects OSIsoft PI System to support renewable energy growth in India 17-04-2014
JinkoSolar successfully connects two solar PV projects totaling 39MW to the grid in Jiangsu Province 17-04-2014
Yingli Green Energy signs cooperation agreement with Sailing Capital to jointly form a one billion RMB renewable energy fund 17-04-2014
IBERDROLA INGENIER√ćA in Russia to construct the 1,020 MW substation for the Votkinskaya hydropower station 17-04-2014