Redstone

Concentrated Solar Power Plant on Track for 2023 in South Africa

Awarded to ACWA Power and SolarReserve in 2015 under South Africa's REIPPP programme bid window 3.5 - which was specifically created for CSP projects - the Redstone Concentrated Solar Power Project will produce 480,000MW of clean energy annually. The project was signed in 2018 and started construction in May 2021. [...]

New concentrated solar power plant to be built in South Africa by 2023

Northern Cape premier Zamani Saul says work is progressing at the Redstone Concentrated Solar Power Project in Postmasburg, which is expected to bring additional power to the country’s energy network. In his state of the province address on Thursday (24 February), Saul said the project is one of the largest [...]

South Africa’s largest renewable energy project Redstone concentrated solar power (CSP) achieves first debt draw down

Commercial operation scheduled to start in Q4 2023; The African Development Bank (www.AfDB.org) acted as the Mandated Lead Arranger and Coordinating Bank, committing ZAR 2.306 billion to the transaction; The ZAR 11.6 billion Redstone concentrated solar power (CSP) project will provide power to 200,000 households upon completion. South African Redstone [...]

CDC Group is investing $50 million in the Redstone Concentrated Solar Power (CSP) project in South Africa

CDC Group is coming to South Africa to announce a direct investment in a sustainable development project. The British government’s financial institution is providing $50 million for the construction of the Redstone Concentrated Solar Power (CSP) plant. The project is being developed by Saudi Arabian company Acwa Power. The independent [...]

How a Bank Resurrected SolarReserve’s Redstone Concentrated Solar Power with ACWA Power

SolarPACES interviewed Bernard Geldenhuys, the Senior Transactor in the Power and Infrastructure team at Investec Bank, a lender with 8,300 employees that has been closely involved in the 100 MW Redstone solar power tower since 2018, when its delayed PPA was signed with Eskom, as the first commercial bank to [...]

100 MW Redstone Concentrated Solar Power with 12 Hours Daily Thermal Energy Storage Closes Financing

ACWA Power has led South Africa’s largest renewable energy project Redstone CSP to financial close The ZAR 11.6 billion Redstone concentrated solar power plant will power 200,000 households upon completion Redstone CSP Closes Financing May 2021 – ACWA Power Commercial operation scheduled to start in Q4 2023 ACWA Power, a [...]

AfDB approves $221m loan for 100 MW Redstone Concentrated Solar Power project in South Africa

The African Development Bank (AfDB) has approved a senior loan of ZAR3bn ($221m) to the 100MW Redstone Concentrated Solar Power (CSP) Project, which is expected to improve South Africa’s energy mix and accelerate the transition to renewable energy. The solar power project, located in the Humansrus Solar Park, Northern [...]

$658m deal signed to 100 MW Redstone concentrated solar power (CSP) plant in South Africa

Saudi company ACWA Power, which operates in the fields of power generation and desalination in more than 10 countries, has announced plans to invest $658 million in South Africa. An announcement on Friday said this will help to boost trade and investment links between Saudi Arabia and the African [...]

South Africa’s Redstone Concentrated Solar Power project gets power purchase agreement

The South African government has finally signed a power purchase agreement (PPA) for SolarReserve and ACWA Power’s 100 MW Redstone CSP project, ending more than two years of delays. South African energy minister Jeff Radebe confirmed the news on Twitter. He announced that the South African government had signed [...]

Eskom to sign Redstone Concentrated Solar Power in South Africa

At the Energy Indaba in Johannasburg, South Africa’s new Energy Minister, David Mahlobo announced that he has now signed off on the 27 outstanding renewable energy contracts that the state-owned electricity company Eskom has failed to honor for a year and a half, including Redstone. ACWA Power South Africa Deputy [...]

Acwa’s Redstone concentrated solar power project hits cost roadblock in South Africa

Riyadh’s Acwa Power together with the US company SolarReserve is developing the Redstone project, a molten salt central receiver in the Northern Cape province of South Africa. This is the first in the continent of a new generation of solar plants that are garnering interest around the world. The technology [...]

Why ACWA’s active in South African Concentrated Solar Power market?

Head-quartered in Saudi Arabia, ACWA Power is a world leading developer, investor, co-owner and operator of a portfolio of power generation plants. Positioning as a major player in global renewable energy sector has been a crucial part of ACWA’s strategy. In concentrated solar power domain, the giant makes the whole [...]

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