OPIC to give $400m for CSP project in South Africa

• 9 years ago (2015-09-18)

Africa 320 North America 1021 Renewables 776

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At the beginning of the year, South Africa’s Department of Energy (DOE) included the Redstone project as part of its Renewable Energy Independent Power Producer Procurement Programme’s (REIPPPP) third round.

Redstone, much like SolarReserve’s 100 MW Crescent Dunes solar thermal power plant in the US state of Nevada, will use a tower configuration.

The project, located in South Africa’s Northern Cape province, is part of more than $1 billion in OPIC financing and support for US-led developments in Africa and Asia and it will use an OPIC investment guarantee to help build and operate the solar thermal plant.

Of this total sum, $250 million has been allocated by OPIC for power generation and infrastructure projects in OPIC-eligible countries in sub-Saharan Africa, while another $250 million has been set aside for a power grid upgrade in Pakistan.