Pele Green Energy refinances stake in South African solar farm

RMB refinanced a 35% equity stake in South Africa’s Touwsrivier CPV Solar Farm, held by renewable energy player Pele Green Energy.

The Touwsrivier CPV Solar Farm uses concentrator photovoltaic (CPV) cell technology as opposed to conventional photovoltaic panels found in the majority of solar farms globally. It is the only plant of this technology in South Africa’s Renewable Energy Independent Power Producer Procurement (REIPPP) programme.

Pele Green Energy, which also acts as the project asset manager, has had to manage the project’s unique technology, the replacement of the project’s operations and maintenance contractor which had been placed in business rescue, and the exit of the project’s international technology partner.

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