- Engie has finalised the purchase of Abengoa’s indirect stake in Xina Solar One.
- The French energy giant’s local subsidiary now holds 40% equity stake in the 100MW concentrated solar power plant in the Northern Cape, South Africa.
Following completion of the transaction, Engie now also holds 46% of the Xina Operations & Maintenance Company. The 100MW capacity Xina Solar One plant provides about 400GWh of clean, sustainable, dispatchable electrical energy to 95,000 South African households. The CSP plant prevents around 348,000 tons of CO2 emissions annually.
Co-shareholders on Xina Solar One include Public Investment Corporation, a pension fund manager and a shareholder on ENGIE’s Kathu project (20%); Industrial Development Corporation, a development finance institution wholly- owned by the South African Government (20%); and Xina Community Trust, funded by the IDC (20%). Xina Solar One, which started commercial operation in August 2017, was built by Abengoa.
Author: Bryan Groenendaal