Johannesburg’s Pele Green Energy (Pty) Ltd, a South African independent power developer was recently awarded a grant by the US Trade and Development Agency (USTDA).
The grant, which was awarded mid-last week is for purposes of funding Pele Green Energy to carry out a feasibility study in order to assess the feasibility of a 75 megawatt solar photovoltaic power plant in the Free State province of South Africa
South Africa enjoys one of the strongest markets for renewable energy in sub-Saharan Africa. The feasibility study will provide the firm with the analyses needed to prepare a competitive proposal for the next round of South Africa’s Renewable Energy Independent Power Producer Procurement Program.
It will also be useful in the assessment of other options for the project to sell its output directly to interested public and private sector off-takers.
Pele Green Energy selected Castalia LLC (Washington, DC), an independent economic and financial advisory firm, to conduct the feasibility study. The project presents opportunities for US businesses to sell solar PV modules, inverters, mounting racks, as well as other equipment and services.
Lida Fitts, USTDA’s Regional Director for Sub-Saharan Africa expressed the firm’s excitement with regards to the partnership which aims to increase solar energy generation in South Africa. This was seconded by Obakeng Moloabi, the Executive Director for On-Grid Project Development at Pele Green Energy.
US Consul General of Cape Town, Teddy B. Taylor said that USTDA’s contribution would come in handy in securing risk capital for the project, a factor that usually poses a huge challenge in such endeavors. He was signing the the grant on behalf of USTDA, along with Moloabi, at a Power Africa event in Cape Town, South Africa during Africa Utility Week.
Pele Green Energy owns and operates 884MW of renewable energy power plants in varying stages of development, with the 36MW solar CPV power plant charged with connecting the national grid as at December 2014 as their most advanced project.
Their operations include participating in the engineering, procurement and construction and operations & maintenance of power plants in the Western Cape, Limpopo and the Northern Cape.
