JOHANNESBURG - Tuesday, November 20th 2012 [ME NewsWire]
South African Company’s Solar and Wind Initiatives Projected to Provide Nearly 50 Megawatts of Renewable Energy
(BUSINESS WIRE)-- BioTherm Energy, one of South Africa’s leading renewable energy developers and independent power producers, announced today that it has closed on the financing of one wind and two solar PV renewable energy projects located throughout the country. Led by chief executive officer Jasandra Nyker, BioTherm is the only South African company to be awarded three projects from the first round of South Africa’s renewable energy tender.
Construction of the projects, which are anticipated to produce a total combined output of 47 megawatts, will begin immediately. The Dassiesklip Wind Energy Facility will be located in Caledon, Western Cape and have an installed capacity of 27 megawatts. The Aries Solar Energy Facility, located in Kenhardt, North Cape, is expected to produce 10 megawatts. BioTherm’s second solar project is the Konkoonsies Solar Energy Facility located in Pofadder, Northern Cape. Its anticipated output is also 10 megawatts. Both solar projects have expansion capacity—supporting the company’s strategy to initially construct smaller-sized projects with a shorter timeframe to commercial operation and focusing long-term on larger-scale projects.
"These three projects represent a pivotal point for our company,” said Nyker. "We are a proud South African company and look forward to being an integral part of the government’s focus on bringing competitively priced renewable energy resources online for the people of our country. Our management team has more than 100 years of wind and solar development and investment expertise, and we are uniquely positioned as one of the few developers with access to capital—a key element to opportunistically acquire projects for future development.” Nyker went further to note that the price of wind power today is more competitive than the future tariff rates requested by the state utility (Eskom) in a recent regulatory filing.
With a focus on renewable power in all of Southern Africa, BioTherm has an extensive pipeline of wind and solar projects in development totaling an estimated 2,400 megawatts. The company is partnering with reputable broad-based black economic empowerment partners and is backed by Denham Capital, a leading global energy and resources-focused private equity firm with US$7.3 billion of committed and invested capital.
About BioTherm Energy
Founded in 2003, Johannesburg-based BioTherm Energy is one of South Africa’s leading renewable and energy developers and independent power producers and was the first IPP to secure private project financing & CER certification for a renewable energy project in November 2007. The company aims to own and operate its renewable energy projects and utilizes the physical and intellectual skills of local human resources during project development and construction. The company is committed to meeting Government set targets on job creation and local content requirements in all of its projects, and views this as a key imperative to the long term success of the South African renewables industry. More information about the company can be found by visiting www.biothermenergy.com.
About Denham Capital
Denham Capital is a leading energy-focused global private equity firm. With approximately $7.3 billion of invested and committed capital, Denham makes direct investments in the energy and resources sectors, including businesses involving oil and gas, metals and minerals, and power and renewables. With offices in Boston, Houston, Short Hills, London, São Paulo and Perth (February 2013), Denham invests globally, with investments currently in the U.S., Canada, South America, Europe, Australia, South Africa and Asia. Denham invests across all stages of the corporate lifecycle, from exploration and development projects to mature, operating businesses, and all segments of the capital structure. For more information about Denham Capital, visit www.denhamcapital.com.
For Denham Capital
Brad Russell, (713) 627-2223