Boshof – Free State Province – South Africa
The Castor project was acquired by SOLA ahead of the Second Phase of South Africa’s Small Projects Program. The complete due diligence, sale and finalization of authorizations for the project took place in three months ahead of the bid submission, and reflects SOLA’s targeted and flexible approach to creating power generation assets.
SOLA led the successful bid submission and the project was awarded Preferred Bidder status in February 2017, together with the Capella Project.
All further project development, including the financial close process, financing, construction and operation of the project will be carried out within the Aurora Group.
SOLA Assets will remain majority equity investor and SOLA Build is the appointed EPC and O&M contractor for the Castor project.
Key activities by SOLA include:
- Identification and acquisition of brownfield site
- Management of the grid integration design and authorisation process
- Financial structuring of the project
- Arrangement of the project debt
- Complete bid submission and tariff determination
- Complete design of the project
- Sub-EPC selection, appointment and contracting process
- Management of all construction logistics and considerations
|Program & round awarded||South Africa’s Small Projects Program (SPP), Phase 1|
|Size (MW AC)||5|
|Status||Awarded Preferred Bidder, ready for Financial Close|
|Location||Victoria West, Northern Cape, South Africa|
|SOLA’s role||Originator, Developer and Sponsor|
|Project sponsor||Aurora Power Solutions|
|MWh generated (p.a.)||16,500|
|Tons CO2 avoided (p.a.)||17,176|