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Gestamp Solar signs power purchase agreement for two projects in South Africa

CTBR Staff Writer Published 09 November 2012

Spanish developer and operator of utility-scale photovoltaic plants Gestamp Solar has signed power purchase agreements for two photovoltaic plants in South Africa.

The company also signed €80m financing agreements for the Northern Cape located projects with two local financing firms - Nedbank and IDC.

Gestamp Solar CEO Jorge Barredo remarked that the projects will help increase the company's international footprint.

The two plants with a total capacity of 30MW are part of the 28 projects selected as part of the country's energy department's renewable energy independent power producer procurement program.