SPS buys 5MW solar projects for supply to Energy Exchange
Company to sell output from two plants in Western Cape to firm owned by Remgro and RMB
10 July 2024 - 19:14
byNoxolo Majavu
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Sustainable Power Solutions (SPS) has acquired two 5MW solar projects in the Western Cape that will supply an energy trading company owned by Remgro and RMB in a deal that further boosts SA’s rapidly growing renewable energy sector.
SPS, which specialises in the design, installation, financing and maintenance of solar PV and battery storage systems, acquired the two projects, near the Swartland town of Malmesbury, after buying Slimsun Too (Pty) Ltd.
SPS has entered into a power purchase agreement (PPA) with Energy Exchange, which is jointly owned by Remgro and RMB, for the output from the two plants that are being built on land owned by Anthony Corin of Franco Afrique Technologies.
The acquisition, finalised earlier this year, “grants SPS full ownership of Slimsun Too, which holds the development rights for two 5MW solar plants in the Malmesbury region”, SPS said in a statement. “The projects will connect to the Eskom Eenboom substation, utilising the Eskom network to deliver energy to Energy Exchange’s customers.”
The initial phase of construction is scheduled to commence later in July and is scheduled for completion on May 1 2025. The subsequent phase is set to start in May 2025 and is expected to be completed within 12 months. Each phase involves an investment of about R85m per solar plant.
“The acquisition of the Slimsun Too projects and the PPA entered into with Energy Exchange mark a significant advancement for both SPS and the renewable energy sector in SA,” said Francois van Themaat, SPS’s MD of large projects.
Besides generating clean, renewable energy and lowering carbon emissions in Malmesbury, the projects will contribute to enhancing local infrastructure and bolstering the region’s energy resilience, SPS said.
“We are pleased to collaborate with Energy Exchange and Anthony Corin on these projects and extend our gratitude for their invaluable support in achieving financial close,” Van Themaat added.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
SPS buys 5MW solar projects for supply to Energy Exchange
Company to sell output from two plants in Western Cape to firm owned by Remgro and RMB
Sustainable Power Solutions (SPS) has acquired two 5MW solar projects in the Western Cape that will supply an energy trading company owned by Remgro and RMB in a deal that further boosts SA’s rapidly growing renewable energy sector.
SPS, which specialises in the design, installation, financing and maintenance of solar PV and battery storage systems, acquired the two projects, near the Swartland town of Malmesbury, after buying Slimsun Too (Pty) Ltd.
SPS has entered into a power purchase agreement (PPA) with Energy Exchange, which is jointly owned by Remgro and RMB, for the output from the two plants that are being built on land owned by Anthony Corin of Franco Afrique Technologies.
The acquisition, finalised earlier this year, “grants SPS full ownership of Slimsun Too, which holds the development rights for two 5MW solar plants in the Malmesbury region”, SPS said in a statement. “The projects will connect to the Eskom Eenboom substation, utilising the Eskom network to deliver energy to Energy Exchange’s customers.”
The initial phase of construction is scheduled to commence later in July and is scheduled for completion on May 1 2025. The subsequent phase is set to start in May 2025 and is expected to be completed within 12 months. Each phase involves an investment of about R85m per solar plant.
“The acquisition of the Slimsun Too projects and the PPA entered into with Energy Exchange mark a significant advancement for both SPS and the renewable energy sector in SA,” said Francois van Themaat, SPS’s MD of large projects.
Besides generating clean, renewable energy and lowering carbon emissions in Malmesbury, the projects will contribute to enhancing local infrastructure and bolstering the region’s energy resilience, SPS said.
“We are pleased to collaborate with Energy Exchange and Anthony Corin on these projects and extend our gratitude for their invaluable support in achieving financial close,” Van Themaat added.
majavun@businesslive.co.za
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