VREDENDAL SOLAR POWER PARK (PTY) LTD.

Transcription

1 VREDENDAL SOLAR POWER PARK (PTY) LTD. NERSA Public Hearing on the the Application for a Generation License for Renewable Energy Power Plants 13 AUGUST 2012

2 Contents 1. Background and Project Company Structure 2. Corporate Background 3. Project Description 4. Technical 5. General (non-confidential) Financial and Funding 6. Community Trust, BBBEE & Economic Development

3 Background and Project Company Structure

4 Background and Project Company Structure Solar Photovoltaic Fixed Frame MWp Installed Capacity Located 300km north of Cape Town 100% Locally Manufactured Modules 196 jobs created during construction 36 jobs created during operation

5 Background and Project Company Structure SDSA (Lead member) Jay & Jayendra (Pty) Ltd. (Black Enterprise Members) Vredendal Solar Community Trust Vredendal Solar Power Park (Pty) Ltd.

6 Corporate Background Lead Member 100% Owned by SolaireDirect Largest Solar IPP in France 300 employees worldwide offices in 6 countries Local subsidiary started in 2009 currently employing 12 people

7 Corporate Background Fully Integrated Business Model

8 Corporate Background Solairedirect has installed over 120MW to date. Another 135MW is currently under construction and 120MW under development.

9 Corporate Background - Local Manufacturing Facility A state-of-the-art, purpose built, PV Module production unit in CAPE TOWN Plant Commissioned in Feb Current capacity of 50MW per year 110 employees R50million investment

10 Corporate Background Local Partner Black owned investment holding and management company J & J shareholding is broad-based extending to 200,000 individuals Current investments span various industries and sectors including rail, energy, bio-fuels and property

11 Project Description

12 Project Description

13 Project Description - Site Photos PHOTOGRAPHS LOOKING EAST AND SOUTH

14 Project Description - Site Photos PHOTOGRAPHS LOOKING WEST AND NORTH

15 Project Description PARAMETER UNIT VALUE Site area Ha Solar park area Ha 19.9 Park perimeter measurement M 800 (length) x 300 (width) Latitude * South Longitude * East Temperature (min/max) Degrees Celsius -10/+45 Altitude m (a.m.s.l.) 200 Average rainfall mm per annum 105 Relative humidity % 90 Electrical Information Total Contracted capacity MW (peak) 8.82 Total quantity of PV modules Pcs Number of inverter/transformer stations Pcs 8 Inverter station capacity MW Grid Connection Connection Voltage kv 11 Transmission Line Length km 0.5 Eskom Substation * Bulte

16 Technical

17 Technical Permits & Consents

18 General (non-confidential) Financial and Funding Project Financing Structure SD France (Parent Company) free carry 100% SDSA (Lead member) Jay & Jayendra (Pty) Ltd. (Black Enterprise Members) Vredendal Solar Community Trust 57.5% 40% 2.5% SDSA J&J Vredendal Solar Power Park (Pty) Ltd. Equity 31% Snr Debt 62% Pref Shares 7% DBO Contract EXTERNAL DEBT 62% 7% 90% 10% SOLAR CONTRACTING RMB (Senior Debt) RMB (Pref. Shares) SHAREHOLDING (SH) CONTRACT SolaireDirect Technologies (Primary Equipment Supplier)

19 General (non-confidential) Financial and Funding Total estimated project cost R202 million Funding structure: Senior Debt: 62% Mezzanine finance: 7% (preference shares) Equity: 31% Cash flow positive from first year of operations (before equity participation) Comprehensive O&M program in place Comprehensive insurance program in place Decommissioning provision provided for at 10% of cost

20 Community Trust, BBBEE & Economic Development Group Description Target Commitment RSA Based Employees Citizens 80% 80% Job Creation RSA Based Employees Black Citizens 50% 50% Skilled Employees Skilled Black Citizens 30% 30% RSA Based Employees Local Citizens 20% 20% Local Content % of Local Content Spend 60% 54.3% Project Company Black shareholding 30% 30% Ownership Project Company Local Community 2.5% 2.5% EPC Contractor Black shareholding 8% 10% O&M Contractor Black shareholding 8% 10% Management Control Black Top Management 40% 40% BEE Procurement Spend 60% 60% Preferential EME & QSE Procurement Spend 10% 5% Procurement Woman Owned Vendor Spend 5% 2.5% Enterprise Development Enterprise Development Contributions 0.6% 0.5% Socio-Economic Development Socio-Economic Development Contributions 1.5% 1.2%

21 Community Trust, BBBEE & Economic Development Local Ownership & BBBEE South African Ownership = 41.42% Project Company = Level 4 Contractor = Level 4

22 Community Trust, BBBEE & Economic Development Community Trust 2.5% ownership in Project Co. (shares gifted) 1.2% of revenue committed to socio-economic development A Broad-based trust benefitting the communities of Aurora, Piketberg & possibly others in the vicinity. Trustees will consist of members of the Project Co, independent members and members from the community represented by NGO s and other organisations active in the area. Beneficiaries of the Trust identified through projects and initiatives undertaken by NGO s. Projects will cover the healthcare, welfare, housing & education sectors

23 CONCLUSION