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PIC invests $415 million in two Northern Cape solar power projects

Image Credit: Abengoa

In a combined equity/debt deal, South Africa’s Public Investment Corporation is investing approximately $366 million for a 20% stake in each of the Ilangelethu and Xina power station developments in the country’s Northern Cape, as well as almost $50 million in debt.  The deal represents the largest equity investment in South Africa’s solar power infrastructure to date. Once operational, the power stations are expected to contribute 200MW to the national electricity grid.

Read more at Business Day…

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