Rustmo Solar PV

TRANSACTION OVERVIEW

In June 2017, Hulisani acquired Momentous Technologies, a holding company with its asset being a 66% shareholding in the RustMo1 CPV Solar Farm.

BACKGROUND

  •  Hulisani purchased 100% of the issued share capital in Momentous Technologies;
  • Momentous Technologies owns 66% of the issued share capital in RustMo1 Solar Farm;
  • RustMo1 is a 7MW solar PV plant located in Rustenburg;
  • Was the first Independent Power Producer (IPP) to be connected to the grid;
  • One of the 18 solar PV power plants constructed in the first round of REIPPPP; and
  • Reached commercial operation date, ahead of schedule, in November 2013.

OPERATIONS AND MAINTENANCE

  • As a utility-scale solar farm with an installed capacity of 7MW, RustMo1 is capable of generating more than 12.5 million kWh of clean solar power annually;
  • Has a 20-year year Power Purchase Agreement (PPA) to supply electricity to Eskom, of which 17 years remain; and
  • RustMo1 is being operated by Juwi Renewable Energies (Pty) Ltd and is connected to the grid

PERFORMANCE

  •  RustMo1 is performing better than predicted;
  • Our hands-on approach at RustMo1 has yielded valuable knowledge of plant operations; and
  • The project has created much-needed jobs and local economic development in the Marikana region of the North West.

Project Details

Country:

South Africa

Capacity:

7 MW

Operational:

 Yes

Purchase Price:

R120,000,000

Investment:

66%