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Friday, 01 April 2016 11:05

Saudi firm to invest R35bn in South African energy projects

The Saudi-based energy firm ACWA Power is planning to invest more than R35bn in renewable and conventional energy projects in South Africa over the next five years.

Speaking at the commissioning of the R5bn Bokpoort concentrated solar energy plant, which has one of the highest thermal energy storages in the world, ACWA Power chairman, Mohammad Abunayyan, said the Northern Cape, where temperatures can exceed 45°C, was one of the top three locations in the world with the highest solar capacity. The plant has the capacity to store up to 9,3 hours of power for night usage and to electrify about 200 000 households.

The international power utility firm is also planning to begin construction of a R9bn, 300MW coal- fired plant in Mpumalanga and another 150MW concentrated solar energy plant in the Northern Cape.

Source: Business Day Live

Link: http://www.bdlive.co.za/business/energy/2016/03/15/saudi-firm-to-invest-r35bn-in-south-african-energy-projects

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