World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Stay Connected
x
South Africa

KaXu Solar One

$112 million
Power
SPG
Proposed
solar

Project Facts

Project Facts

Project Facts

South Africa
Project ID
15797
Guarantee Holder
Atlantica Yield PLC
Investor Country
United Kingdom
Environmental Category
B
Date SPG Disclosed
February 28, 2019
Projected Board Date
April 26, 2019
Project Type
Non-SIP
Fiscal Year
2019

Project Description

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.

 

Environmental Categorization

The project is a categorized as B under MIGA’s Policy on Environmental and Social Sustainability. Click here for the Project’s Environmental and Social Review Summary.

 

Development Impact

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.