This summary covers an application made by Atlantica Yield PLC’s to cover its equity and shareholder loan investments in an existing Concentrated Solar Power plant against the risk of Breach of Contract (BoC) as part of the company’s overall risk management strategy.
KaXu Solar One (the Project) is a 100 MW CSP plant located in the Northern Cape Province in South Africa. The Project consists of a solar field with parabolic trough collectors and a heat transfer fluid (HTF) system, a molten salt Thermal Energy Storage (TES) system, a steam cycle and steam turbine generator, a cooling system and other auxiliary equipment. The stored thermal energy can be discharged anytime to keep the power plant running during times of low solar radiation and is used to extend power production after sunset, allowing the plant to extend electricity generation by approximately 3 hours.
KaXu Solar One had a high developmental at the time of inception. As one of first REIPPP projects, KaXu encouraged the development of other renewable power plants, diversifying South Africa’s coal-based sector. As the first CSP plant in South Africa, the Project contributed to the development of the renewable energy/CSP market, with positive demonstration effects for the five CSP plants that followed.