Scatec's solar and battery projects in Northern Cape reach financial close, construction starts

[Jan]

Constructions begins on South Africa's first major solar and battery power project

Norwegian renewable energy company Scatec ASA has started construction on solar and battery power projects to supply 150 megawatts (MW) of dispatchable electricity to South Africa’s grid.

Once operational, the project will have a total solar power capacity of 540 MW and a battery storage capacity of 1,140MWh (225MW).

 

[OhYeah84]

@Jan Good interview yesterday on SAFM.

 

[RudderVator]

Uncle gwede will watch them build it once it comes to completion turn around and refuse to connect it to the grid

 

[upup]

At least it got a 49% bEE person who they had to gave a shiny credit card.

 

[Ryannza]

Renewable energy with solar panel arrays that must be replace every 25 years.
People's maths are not right

 

[mypetcow]

They are really pushing for projects in Africa. They recently also signed a 20MW solar park in Lesotho. Good news all round.
If foreign companies see value in investing in SA and Lesotho I have to wonder why not more South African companies are doing the same?

https://scatec.com/2021/12/15/scate...ipp-solar-project-in-lesotho-totalling-20-mw/

 

[Pegging]

Renewable energy with solar panel arrays that must be replace every 25 years.
People's maths are not right

Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, rain, tides, waves, and geothermal heat

Renewable energy - Wikipedia

en.m.wikipedia.org

 

[Nerfherder]

Renewable energy with solar panel arrays that must be replace every 25 years.
People's maths are not right

By which time the technology would have been improved 10 fold.

 

[Nerfherder]

They are really pushing for projects in Africa. They recently also signed a 20MW solar park in Lesotho. Good news all round.
If foreign companies see value in investing in SA and Lesotho I have to wonder why not more South African companies are doing the same?

https://scatec.com/2021/12/15/scate...ipp-solar-project-in-lesotho-totalling-20-mw/

Its because the legislation limits how much privately generated electricity can be used on the national grid.
As those restrictions are removed, more companies will have appetite for this kind of investment.

Right now its a risk to just do this kind of thing. High chance of it being worth it though.

 

[konfab]

Scatec ASA.

What a sh!tty name.

 

[itareanlnotani]

Major emergency power project reaches financial close

Renewable energy developer Scatec can start constructing three of its hybrid solar and storage projects to provide emergency power to the country. Once complete, the venture will be one of the world's biggest solar and battery facilities, Scatec said. When it is operational, it will have a...

mybroadband.co.za

 

[hj007]

At least it got a 49% bEE person who they had to gave a shiny credit card.

It looks to me like it is a legitimate financial and engineering partnership on this project though.

H1 team looks capable as an investment team - https://www.h1holdings.co.za/team/
and the projects they're involved in seem good too? https://www.h1holdings.co.za/portfolio/

 

[zolly]

@Jan Good interview yesterday on SAFM.

Is there a recording or podcast? Can't seem to find anything on SAFM.

 

[Tanarri]

By which time the technology would have been improved 10 fold.

I hope this is hyperbole. Solar generations efficiency will not increase 10 times in the next 25 years. I guess we can hope.

 

[OhYeah84]

Is there a recording or podcast? Can't seem to find anything on SAFM.

No idea, I heard it when I was driving in my car.

 

[borro]

Ze bugs

 

[TheChamp]

It looks to me like it is a legitimate financial and engineering partnership on this project though.

H1 team looks capable as an investment team - https://www.h1holdings.co.za/team/
and the projects they're involved in seem good too? https://www.h1holdings.co.za/portfolio/

Not like people who have BEE paranoia care much about details and facts.

 

[JustSomeGuy21]

With 540 MW you can generate 5 x 540 000 kW = 2 700 000 kWh every day

According to Eskom the average cost of electrical energy is R1.46 / kWh

Assuming that there are 20% losses from the point of generatoin to the point of consumption this means they get 2 160 000 kWh x R1.46 = R3 153 600 or R3.1536M

over 20 years thats R3.15M x 356 x 20 = R22.4B
from a what seems to be an investment of R28.8B

Can someone with half a brain please tell me where my 30% pass rate math has let me down because that seems like a pretty kak deal to me.

I think you are part of the 30%ers.... time value of money, is not a constant.

 

[Danie_V]

Renewable energy with solar panel arrays that must be replace every 25 years.
People's maths are not right

Not MUST, they start to lose efficiency after then.

 

[Danie_V]

So power can be generated for the grid without taxpayers having to cough up billions of Rands, nor does it take 8+ years, and ends up being double the original budget!