Renewable energy group AMEA Power has announced the financial close of its 120MW Doornhoek Solar Photovoltaic (PV) Project in South Africa. This US$120 million (R2.2 billion) project will be the company’s first operational asset in the country once commissioned.
Key Partners and Financial Backing
Shareholders: AMEA Power holds the majority stake, partnering with Ziyanda Energy and Dzimuzwo Energy.
Funding: Standard Bank South Africa provided USD100 million (R1.8 billion) in debt funding, while the Industrial Development Corporation contributed USD8 million (R150 million) in equity funding for local partners.
Significant Milestones
Awarded: The project was awarded through Bid Window 6 of the REIPPPP.
Agreement Signed: A Power Purchase Agreement was signed on April 30, 2024, with Mineral Resources and Energy Minister Gwede Mantashe and Eskom Group’s Executive for Transmission, Segomoco Scheppers.
Project Details
Location: Near Klerksdorp in the North West Province.
Capacity: The 120MW Doornhoek Solar PV Project will generate 325GWh of clean energy, enough to power approximately 97,000 households and offset 330,000 tonnes of carbon emissions annually.
Operational Date: The project is expected to commence commercial operations by December 2025.
Community Impact
AMEA Power’s “Community Investment and Development Program” will support socio-economic growth and development in the local community, aligning with the United Nations’ Sustainable Development Goals.
This ambitious project marks a significant step towards renewable energy expansion in South Africa, promising substantial environmental and economic benefits.
