Engie lines up USD 600m for CSP project in South Africa
June 3 – French energy group Engie (EPA:ENGI) has lined up ZAR 9.2 billion (USD 602m /EUR 532m) in financing for its 100-MW Kathu concentrating solar power (CSP) plant in South Africa, Agence Ecofin reports today citing information from the legal adviser of Engie for the project — the Chadbourne & Parke LLP law firm.
The project is financed with a combination of debt and equity, with debt being funded by a group of local banks — Rand Merchant Bank, Nedbank Capital, ABSA Capital, Investec and the Development Bank of South Africa.
The power plant is slated to be operational in the second half of 2018.
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