Saudi Arabia's Technology Development & Investment Co (TAQNIA) has bougt a 50% stake in power and water firm Acwa's solar energy arm, SUN & LIFE.
The final draft that is to be submitted to Cabinet by March proposes an increase of Concentrating Solar Power (CSP) capacity from 1,200 MW - under the current IRP - to 3,300 MW.
ACWA will build a Concentrated Solar Thermal Power parabolic trough plant with a capacity of 160 MW and three hours of thermal storage.
The prices for the two 100 MW Concentrating Solar Power (CSP) projects, Xina Solar One and Karoshoek, dropped from R 2.69/kWh in the first window to R 1.65/kWh.
This is based on technical market potential, renewable energy support, ease of financing, national Concentrating Solar Power (CSP) targets and other industry and political factors.
Acwa mulls buying the concentrating solar power business from German firm Schott Solar, the Süddeutsche Zeitung newspaper says, citing industry sources.
Morocco has secured a 654 million euro loan from German state-owned bank KFW to part-finance two concentrating solar power (CSP) plants totalling 300 megawatts worth an estimated 1.7 billion euros.
The US$810 million Concentrating Solar Power (CSP) project is expected to be completed in 2015.
Lloyd’s coverholder GCube, Munich RE, have been appointed by ACWA Power to deliver specialist insurance and risk advisory services for its 160 MW Concentrating Solar Power (CSP) project Noor 1 in Ouarzazate, Morocco.
ACWA Power’s Noor 1 project is the largest Concentrated Solar Power (CSP) project outside of North America
The renewable energy and power practice of broker Marsh worked with local partner AFMA Group to structure a risk transfer programme that covers the Concentrating Solar Power (CSP) project.
Munich Re and GCube have been appointed by Saudi Arabian power company ACWA Power to deliver specialist insurance and risk management services for Noor 1, a 160 megawatt concentrated solar power project in the city of Ou
The Bokpoort Concentrated Solar Power Plant will add socio-economic value to the area, with about $2m of additional investments each year and 60 permanent employment opportunities during its operational life.
ACWA Power held a ceremony to commence construction of the Bokpoort concentrated solar power (CSP) independent power producer (IPP) project located in Groblershoop, Northern Cape.