USTDA Provides Risk Capital for Solar Project in South Africa

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South African independent power developer, Pele Green Energy (Pty) Limited, has been awarded a grant to carry out a feasibility study assessing the viability of a 75 megawatt solar photovoltaic power plant by the United States Trade and Development Agency (USTDA).

The analyses from the study will enable the company prepare a competitive proposal for the next round of South Africa’s Renewable Energy Independent Power Producer Procurement Programme.

The study which will also assess options for the plant to sell its output directly to interested public and private sector off-takers will be conducted by Washington-based Castalia LLC, an independent economic and financial advisory firm.

Lida Fitts, USTDA’s Regional Director for Sub-Saharan Africa said, “We are proud to connect Pele Green Energy with a leading U.S. company to develop this project that will add solar energy generation in South Africa.”

USTDA continues in its mandate to export U.S. goods and services for priority development projects in emerging economies recently facilitating partnerships in the energy and power sectors in Nigeria and Kenya.

Obakeng Moloabi, Executive Director for On-Grid Project Development at Pele Green Energy expressed the company’s appreciation for USTDA’s contribution that is aimed at bringing the project to financial close noting, “Risk capital for renewable energy projects is often difficult to secure.”

The plant will be located in Free State province, South Africa.

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