Business & Industry Gas

R9.7bn peaker projects enter construction

Construction has started on the R9.7-billion peaker power projects being developed in KwaZulu-Natal and the Eastern Cape, with Investec Corporate and Institutional Banking confirming on Wednesday that the two open-cycle gas-turbine plants, which will have a combined capacity of 1 005 MW, had reached financial closure.

The build, own and operate package was awarded by the Department of Energy (DoE) to a consortium led by international energy group GDF SUEZ. Investec acted as the coordinating mandated lead arranger and sole documentation bank providing senior debt facilities in a syndicate of six financial institutions. Read on Engineering News >

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