Lead PV Projects: South Africa
SolarReserve’s experienced team of power project professionals has assembled an extensive 5,000 MW worldwide development portfolio of large-scale solar projects. The company’s balanced portfolio of projects includes advanced solar thermal technology (CSP), photovoltaic (PV) technology, and hybrid – combined CSP and PV -solutions that can provide competitive 24-hour solar energy.
With more than 1,500 megawatts (MW) of PV development projects in its portfolio, SolarReserve is continuing its efforts to provide renewable energy solutions that not only generate clean energy, but also cultivate economic growth for communities around the world.
The SolarReserve team is adept at developing large scale projects internationally including three PV projects totaling 246 MW-DC of generation capacity in South Africa: the Lesedi, Letsatsi and Jasper Projects.
Two of the projects, the Lesedi and Letsatsi Solar Projects, which have completed construction and are fully operational, are two of the largest project finance transactions ever completed in South Africa and among the largest renewable energy projects in continental Africa. Lesedi and Letsatsi were recognized as Project Finance International magazine’s 2012 African Renewables Deal of the Year Award.
The third project, the Jasper Solar Project currently under construction and expected to come online in 2014, will produce 17% more electricity than Lesedi and Letsatsi, making Jasper one of the largest solar installations on the continent. This project also marks Google’s first renewable energy investment in Africa.
In addition to the environmental benefits to South Africa in helping the country move from a primarily coal based power system to renewables, the three PV projects created thousands of direct jobs during the construction and operations phase, as well as indirect and induced jobs across the supply chain. These three plants combined will power more than 210,000 South African homes and are providing significant long-term economic benefits to the region. All of the projects have set aside a percentage of total project revenues for enterprise and socio-economic development, which will be invested for the benefit of the local communities. This is a key principle of South Africa’s BBBEE program which seeks to further social economic empowerment of formerly under-privileged individuals, which SolarReserve fully supports in our development efforts.