South Africa: New horizons for NuPlanet
Issue 289 - 20 Nov 2014
South African-based small hydro developer NuPlanet has started construction of a third run-of-river scheme and is looking to expand internationally. Managing director Anton-Louis Olivier told African Energy in an interview that construction of the 4.5MW Stortemelk plant on the Ash River, near Clarens in Free State, began in October after the developer reached financial close in September. The R186m ($18m) project is funded on a 30-70% debt-to-equity ratio with debt from Rand Merchant Bank and equity financing from parent company Renewable Energy Holdings, jointly owned by Olivier and the Mertech Group.
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