aurora-rietvlei solar power (pty) ltd. - nersa€¦ · · 2012-08-15aurora-rietvlei solar power...
TRANSCRIPT
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AURORA-RIETVLEI SOLAR POWER (PTY) LTD.
NERSA Public Hearing on the Application for a Generation License for Renewable Energy Power Plants
13 AUGUST 2012
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Contents
1. Background and Project Company Structure
2. Corporate Background
3. Project Description
4. Technical
5. General (non-confidential) Financial and Funding
6. Community Trust, BBBEE & Economic Development
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Background and Project Company Structure
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Background and Project Company Structure
• Solar Photovoltaic – Fixed Frame
• 10.350 MWp Installed Capacity
• Located 180km north of Cape Town
• 100% Locally Manufactured Modules
• 196 jobs created during construction
• 36 jobs created during operation
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Background and Project Company Structure
Jay & Jayendra (Pty) Ltd.(Black Enterprise
Members)
SDSA(Lead member)
Aurora Solar Community Trust
Aurora-Rietvlei Solar Power (Pty) Ltd.
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Corporate Background
• Lead Member
• 100% Owned by SolaireDirect –Largest Solar IPP in France
• 300 employees worldwide –offices in 6 countries
• Local subsidiary started in 2009 currently employing 12 people
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Corporate Background
Fully Integrated Business Model
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Corporate Background
Solairedirect has installed over 120MW to date. Another 135MW is currently under construction and120MW under development.
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Corporate Background
• A state-of-the-art, purpose built, PV Module production unit in CAPE TOWN
• Plant Commissioned in Feb 2009.
• Current capacity of 50MW per year
• 110 employees
• R50million investment
- Local Manufacturing Facility
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Corporate Background
• Local Partner
• Black owned investment holding and management company
• J & J shareholding is broad-based extending to 200,000 individuals
• Current investments span various industries and sectors including rail, energy, bio-fuels and property
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Project Description
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Project Description
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Project Description
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Project Description
- Site Photos
PHOTOGRAPHS LOOKING EAST AND SOUTH
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Project Description
- Site Photos
PHOTOGRAPHS LOOKING WEST AND NORTH
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Project Description
PARAMETER UNIT VALUE
Site area Ha 65Solar park area Ha 19.9
Park perimeter measurement M 800 (length) x 300 (width)Latitude * 32°38’28.84” SouthLongitude * 18˚29’50.24” EastTemperature (min/max) Degrees Celsius -10/+45Altitude m (a.m.s.l.) 135Average rainfall mm per annum 271Relative humidity % 90
Electrical Information
Total Contracted capacity MW (peak) 9.00Total quantity of PV modules Pcs 42 240
Number of inverter/transformer stations Pcs 8Inverter station capacity MW 1.260Grid ConnectionConnection Voltage kV 22Transmission Line Length km 11Eskom Substation * Vredelust
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Technical – Generation Forecast
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Technical – Permits & Consents
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General (non-confidential) Financial and
Funding – Project Financing Structure
Jay & Jayendra (Pty) Ltd.(Black Enterprise Members)
SD France(Parent Company)
SDSA(Lead member)
Aurora Solar Community Trust
Aurora-Rietvlei Solar Power (Pty) Ltd.
Equity 31%Snr Debt 62%Pref Shares 7%
57.5%
100%
“free carry”
SOLAR CONTRACTING
SDSA J&J
90% 10%
SolaireDirectTechnologies
(Primary Equipment Supplier)
DBOContract
SHAREHOLDING (SH)
CONTRACT
40% 2.5%
EXTERNAL DEBT
RMB(Senior Debt)
RMB(Pref. Shares)
62% 7%
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General (non-confidential) Financial and
Funding
• Total estimated project cost R212 million
• Funding structure:– Senior Debt: 62%– Mezzanine finance: 7% (preference shares)– Equity: 31%
• Cash flow positive from first year of operations (before equity participation)
• Comprehensive O&M program in place
• Comprehensive insurance program in place
• Decommissioning provision provided for at 10% of cost
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Community Trust, BBBEE & Economic
Development
Group Description Target Commitment
Job Creation
RSA Based Employees – Citizens 80% 80%
RSA Based Employees – Black Citizens 50% 50%
Skilled Employees – Skilled Black Citizens 30% 30%
RSA Based Employees – Local Citizens 20% 20%
Local Content % of Local Content Spend 60% 54.3%
Ownership
Project Company – Black shareholding 30% 30%
Project Company – Local Community 2.5% 2.5%
EPC Contractor – Black shareholding 8% 10%
O&M Contractor – Black shareholding 8% 10%
Management
ControlBlack Top Management 40% 40%
Preferential
Procurement
BEE Procurement Spend 60% 60%
EME & QSE Procurement Spend 10% 5%
Woman Owned Vendor Spend 5% 2.5%
Enterprise
DevelopmentEnterprise Development Contributions 0.6% 0.5%
Socio-Economic
Development
Socio-Economic Development
Contributions1.5% 1.2%
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Community Trust, BBBEE & Economic
Development
Local Ownership & BBBEE
• South African Ownership = 41.42%
• Project Company = Level 4
• Contractor = Level 4
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Community Trust, BBBEE & Economic
Development
Community Trust
• 2.5% ownership in Project Co. (shares gifted)
• 1.2% of revenue committed to socio-economic development
• A Broad-based trust benefitting the communities of Aurora, Piketberg & possibly others in the vicinity.
• Trustees will consist of members of the Project Co, independent members and members from the community represented by NGO’s and other organisations active in the area.
• Beneficiaries of the Trust identified through projects and initiatives undertaken by NGO’s.
• Projects will cover the healthcare, welfare, housing & education sectors
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CONCLUSION