Précis:South Africa's first concentrated solar power deal has re-written the book on local energy project finance.By Tom Nevin in Johannesburg
South Africa will make its first foray into concentrated solar power (CSP) when Abengoa’s groundbreaking tower and parabolic trough installations come online in 2014.
The deal struck between Spanish solar company Abengoa and the South African government’s Industrial Development Corporation (IDC) entails a 51%-49% shareholding in favour of the Spaniards; the IDC’s 49% includes 29% direct equity with a 20% stake to be held in preferences shares for local communities.
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Creative project finance: South Africa’s unique funding package
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