Soitec, a world enterprise in generating and manufacturing revolutionary semiconductor materials for energy and electronics, announced on March 25th that its Touwsrivier solar power plant has successfully fulfilled milestones set for commissioning 50% of the total capacity. This event confirms that the power plant performs in accordance with contractual specifications and validates the power purchase agreements applied to the 44MWp solar plant.
As anticipated this milestone will trigger the refinancing of the project through the availability of the proceeds of the bond issued on the Johannesburg stock exchange in April last year.
Thanks to its local partners and suppliers, Soitec is confident to complete this largest solar power plant of 44 MWp capacity in South Africa in the coming months. Currently more than 60% of the power plant has been installed.
The achieved performance testing milestone demonstrates that Soitec’s CPV technology is suited for large utility scale power plants in high irradiance areas which is one of the largest market for solar renewable and confirms the bankability of Soitec’s product for its announced pipeline of large scale solar projects going forward.