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07 Aug 2013 04:08:01

Lenders talking future project financing at PV Project Development Africa Summit

PV Insider announced this week that the World Bank, Standard Bank and Nedbank Capital have confirmed to participate at PV Project Development Africa 2013, taking place in Johannesburg on 27-28 August.

South Africa’s emerging solar market saw investment leap to USD 4.3 billion in 2012, from just a few tens of millions in 2011. This surge in investment was the result of 27 projects, totaling 1049.1MW, being awarded approved bidder status in Rounds 1 and 2 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

However, delays in advancing projects to financial close in Rounds 1 and 2 have had a knock on effect, with the bid submission date for Round 3 set for 19 August 2013, more than 12 months later than expected.

Experts have suggested that the delays have created widespread uncertainty surrounding the ability to continue to raise capital to support the country’s ambitious renewable targets. Furthermore, the push back in financial close for Rounds 1 and 2 has resulted in a lack of clarity in how many megawatts will be available in the 4th and 5th Rounds. This in turn has made it difficult for developers, EPC groups and manufacturers to commit more resources to the development of projects.

To combat this uncertainty surrounding the future financing of PV projects in South Africa, and other emerging markets, PV Insider have announced this week that the World Bank, Standard Bank and Nedbank Capital will participate at PV Project Development Africa 2013 (27-28 August, Johannesburg). The risks associated with PV technologies and the challenges faced to secure project finance in Rounds 1 and 2 will form a critical part of the discussion.

Other confirmed participants include leading regulators, project developers and manufacturers active in this region, including the Department of Energy, Eskom, Solar Capital, Aurora Power Solutions and Momentous Energy. Furthermore, representatives from the Ministry Of Energy in Kenya and the Energy Commission in Ghana will identify the key policy drivers and project opportunities for developers in their respective countries.

The event is set to take place on 27-28 August in Johannesburg. For more details about the summit go to the website: http://www.pv-insider.com/africa

Or contact Jack Ahearne - Send an enquiry

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