PIC puts R5bn into Northern Cape renewable energy projects

Business Day LIVE
19 March 2015
RENEWABLE energy projects received a boost with the announcement on Wednesday of two new solar power plants to be built in the Northern Cape.
The Public Investment Corporation (PIC) will invest R4.4bn, buying a 20% stake in each plant and providing debt funding for both totalling R600m. Worth R22bn, the Ilangalethu and Xina power stations are expected to contribute a combined 200MW to the national electricity grid. It usually takes two years to build a solar plant.  Read more…

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