adminwhich closed on April 29, which has a 11 percent coupon, is the third such deal in the world.
It was raised for French renewable energy firm Soitec. Standard Bank’s Alexi Contogiannis who is responsible for Debt Primary Markets said: “This is truly a landmark deal both for South Africa and Standard Bank.
“The size of the issue and level of interest from a broad range of local investors is a clear indication of the substantial appetite and viability of clean energy projects in South Africa.”
Gaetan Borgers, from Soitec said the success of this transaction highlighted that Soitec could plan, finance and deliver utility scale power plants based on CPV technology.
“Our presence across the entire value chain is an important part of our business model,” he added.
The bond will be used to fund the development and construction of one of the world’s largest CPV generating facilities.
Based in Western Cape’s Touwsrivier, close to the Aquila Private Game Reserve, the power plant is scheduled for completion in June 2014 and a final generating capacity of 44MW.
Commercial operation of the first installed systems will begin shortly in mid-2013. In total, more than 1 500 high-efficiency CVP systems will be erected on the sit — CAJ News.
Online Reporter