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