ABN – SolarReserve and ACWA Power have been granted permission by the South African Department of Energy to construct a 100 megawatt solar power plant in Kimberley.
A thermal energy-storage system will be included in the plant to help balance supply and demand.
The storage system will provide dispatchable power on-demand, which is similar to conventional coal, oil nuclear and natural gas power plants without the emissions.
During construction Redstone will create 800 jobs and US$520 million income tax over the first 20 years of operation.
Financial close for the project is expected this year as well as the signing of a power-purchase agreement with Eskom Holdings SOC.
Production at the Redstone plant is scheduled for early 2018.