Xina Solar One 100MW concentrated solar power plant

Overview:

• Xina Solar One is a 100MW parabolic trough solar plant being constructed in Pofadder, South Africa, by Abengoa.
• Construction on the plant began in 2014, and  should be completed by 2017. 
• It will supply Eskom, South Africa's electricity supply company, with electricity under a 20-year power purchase agreement.
• The project was funded through a $660 million credit facility, lent by a consortium of international finance institutions and commercial banks.
• The lenders included the African Development Bank, the IFC, the Industrial Development Corporation (IDC), the Development Bank of Southern Africa, Barclays, Nedbank and Rand Merchant Bank.
• The developer estimates that total investment will amount to $880 million. 
• Abengoa controls 40% of the consortium that owns the project, with the other 60% controlled by the IDC, the Public Investment Corporation (PIC) and the KaXu Community Trust.

 Rani Mehta - Journalist