Deal #10737

South Africa
Created at
2024-09-27
Last update
2024-09-30

Land area

Intended size
648 ha
Size under contract (leased or purchased area)
  • [current] 648 ha
Comment on land area
The Redstone Concentrated Solar Power (CSP) plant covers a land area of 648 hectares.

Intention of investment

Intention of investment
  • [2015, current] Solar park (648 ha)
Comment on intention of investment
The first official announcement of the Redstone Solar project dates back to January 2015, when the South African Department of Energy awarded the development contract to a consortium led by ACWA Power. This contract was part of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), marking the initial intent to create the project​.

Carbon offset project

Carbon offset project
No

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
The land ownership for the Redstone Concentrated Solar Power (CSP) project remains under the South African government, as the project operates on a lease basis.

Negotiation status

Negotiation status
  • [2021, current] Concluded (Contract signed)
Comment on negotiation status
The agreements for the Redstone Solar project were finalized in April 2021 when the project reached its full construction notice to proceed (NTP). The early works had begun in February 2021, and the project reached financial closure with the involvement of various international and South African financial institutions, including the African Development Bank (AfDB), ABSA Bank, and others.

Implementation status

Implementation status
  • [2021, current] Startup phase (no production)
Comment on implementation status
Still under construction.