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OPIC to give $400m for CSP project in South Africa
- 10 years ago (2015-09-18)
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.
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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.