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SUBSIDIARY NAME

240 MWp SPVR1 Solar PV Power Station plus Ancillary Services

COUNTRY

SOUTH AFRICA

SECTOR/ INDUSTRY

Energy

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

JULY 18,2021

ACQUISITION VALUATION

400 MILLION

TOTAL ASSET VALUATION

4 BILLION

MINING

SPV Renfields (Pty) Ltd for project 240 MWp SPVR1 Solar PV Power Station plus Ancillary Services: acquired on 18 July, 2022 for Construction Debt (85% of Project Cost).

The Hopefield Project is planned to consist of the SPVR1 Klipfontein / Driehoeksfontein 240 MWp (AC) PVS employing First Solar Series 7 CuRe Thin Film Modules mounted on north-south orientated single axis tracking structures generating 240 MWp directly into the grid. Ancillary Services is required to stabilize the supply curve, to be effected by adding capacitor & battery capacity at the inverter stations.

Future extensions are planned around a 10 GW Green Hydrogen Plant Exporting to the EU Britain and Japan.

In terms of the approved environmental certification for the project, energy storage of up to 300 MWp will be allowed on site and ay be effected as either Redox Flow Batteries (RFB) integrated with the DC side of the Solar PV Farm – either Vanadium (VRFB) or Manganese (MnRFB) or Iron (FeRFB) or similar) or a lone standing CCLAES or GHES or a combination thereof. Such hybrid / combined energy storage system shall be implemented for supply stability and has to offer a combined plant factor of 67.5% over 24 hrs to effectively support the baseload requirements of the RSA Grid.

During daylight hours the first 240 MWp installed capacity will (P50) supply 464 GWh renewable energy directly to the grid.

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