MADRID, March 6, 2015 /PRNewswire/ --
- KaXu Solar One is the first Solar Thermal Electric power plant
in commercial operation in South
Africa.
- This public-private partnership helps meeting the energy needs
of South Africa in a reliable and
sustainable manner using innovative technology.
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international
company that applies innovative technology solutions for
sustainability in the energy and environmental sectors, and
state-owned financier, the Industrial Development Corporation
(IDC), together with KaXu Community Trust have launched a 100 MW
solar plant near the town of Pofadder (Northern Cape Province),
capable of providing clean and sustainable power to approximately
80,000 homes in South Africa.
Minister of Economic Development, Mr Ebrahim Patel, officially inaugurated this
innovative solar power plant. They were accompanied by Deputy
Minister of Public Enterprises, Mr. Bulelani Magwanishe, Premier of
the Northern Cape, Silvia Lucas,
executives of Abengoa and IDC and representatives of the local
community.
KaXu Solar One, the first Solar Thermal Electricity (STE) power
plant in South Africa,
incorporates a storage system that enables production of 100 MW for
2.5 hours after sunset or before dawn. The project will result in
approximately USD 891 million direct
and indirect investment inflows to South
Africa, generate approximately USD
516 million in taxes over the next 20 years, and created
1,000 construction jobs during its three-year construction
period.
This project, a well arranged public-private partnership, was
awarded by the Department of Energy of South Africa and it will serve clean and
reliable electricity to Eskom, South
Africa's power utility, under a 20-year power purchase
agreement. Abengoa owns 51 % of the project, the IDC 29 % and KaXu
Community Trust 20 %.
Manuel Sanchez Ortega, Vice
President and CEO of Abengoa, has stated: "We are proud of the role
we are playing to help South
Africa meet its ongoing energy demands. This project will
leave a legacy that will benefit the community of Pofadder,
Northern Cape and the entire country. This would not have been
possible without the leadership of the South African Department of
Energy."
IDC Chief Executive, Geoffrey
Qhena, has declared: "The project is based on a strong
public-private sector partnership and forms part of our efforts to
support Government's initiatives to introduce alternative sources
of energy into the country's energy mix as contemplated in the
integrated resources plan".
Fadiel Farao, the Chairperson of the KaXu Community Trust, says
KaXu Solar One will be a catalyst for economic development in the
Khai Ma municipality in the Northern Cape. "The project has
stimulated the local economy and will go a long way towards helping
to generate much-needed economic opportunities for people in this
area." KaXu Community Trust is made up of members of the local
community.
Abengoa is building in the region Khi Solar One, a 50MW solar
plant using tower technology and has already started the
construction of a third project, Xina Solar
One, a 100 MW parabolic trough plant. Xina Solar One will shape with KaXu Solar One
the largest solar platform in sub-Saharan Africa.
About Abengoa
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative
technology solutions for sustainability in the energy and
environment sectors, generating electricity from renewable
resources, converting biomass into biofuels and producing drinking
water from sea water. http://www.abengoa.com
About IDC
Established in 1940, Industrial Development Corporation (IDC) is
a national development finance institution set up to promote
economic growth and industrial development. They are owned by the
South African government under the supervision of the Economic
Development department. Their primary objectives are to contribute
to the creation of balanced, sustainable economic growth in
South Africa and on the rest of
the continent. IDC promotes entrepreneurship through the building
of competitive industries and enterprises based on sound business
principles. http://www.idc.co.za
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For all inquiries, please contact:
Tonie Jere, The Communications
Firm
Tel: +27-(0)114637550 - tonie@tcf.co.za
Communication Department:
Patricia Malo de Molina Meléndez.
Tel: +1-(636)-532-2111
E-mail: communication@abengoa.com
Investor relations
Ignacio Garcia Alvear
Tel: +1-(636)-532-2111
E-mail: ir@abengoa.com
