Independent power company Globeleq has completed a R1.2-billion senior debt restructuring for its 31 MW Soutpan Solar Power plant, in Limpopo, one of the first solar power plants built under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The company explained on January 23 that, by lowering the cost of debt for the project, the refinancing allows for a significant reduction in wholesale electricity prices from the plant.
