BRIEF-French utility Engie buys 100 MW concentrated solar power plant in South Africa

  • Reuters
  • Stock Market News
BRIEF-French utility Engie buys 100 MW concentrated solar power plant in South Africa
Credit: © Reuters.

March 1 (Reuters) - Engie SA ENGIE.PA :

* ENGIE ACQUIRES 100 MW CONCENTRATED SOLAR POWER PLANT IN SOUTH AFRICA

* To acquire from Abengoa a 40% equity stake in Xina Solar One, a 100 MW Concentrated Solar plant, as well as 46% of the Operations & Maintenance Company.

* The plant is equipped with parabolic trough technology and a molten salt storage system that allows for 5.5 hours of energy storage to provide reliable electricity during peak demand. Power is contracted through a 20 years Power Purchase Agreement with Eskom (South African Electricity Public Utility).

* Xina Solar One increases ENGIE's renewable footprint and is a further step to cementing its position as the leading Independent Power Producer in the country.

Further company coverage: ENGIE.PA

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