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VREDENDAL SOLAR POWER PARK (PTY) LTD.
NERSA Public Hearing on the the Application for a Generation License for Renewable Energy Power Plants
13 AUGUST 2012
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
Background and Project Company Structure
Background and Project Company Structure
• Solar Photovoltaic – Fixed Frame
• 10.395 MWp Installed Capacity
• Located 300km north of Cape Town
• 100% Locally Manufactured Modules
• 196 jobs created during construction
• 36 jobs created during operation
Background and Project Company Structure
Jay & Jayendra (Pty) Ltd.(Black Enterprise
Members)
SDSA(Lead member)
Vredendal Solar Community Trust
Vredendal Solar Power Park (Pty) Ltd.
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
Corporate Background
Fully Integrated Business Model
Corporate Background
Solairedirect has installed over 120MW to date. Another 135MW is currently under construction and120MW under development.
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
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
Project Description
Project Description
Project Description
- Site Photos
PHOTOGRAPHS LOOKING EAST AND SOUTH
Project Description
- Site Photos
PHOTOGRAPHS LOOKING WEST AND NORTH
Project Description
PARAMETER UNIT VALUE
Site area Ha 61.52Solar park area Ha 19.9
Park perimeter measurement M 800 (length) x 300 (width)Latitude * 31°37’33.40” SouthLongitude * 18˚30’30.36” EastTemperature (min/max) Degrees Celsius -10/+45Altitude m (a.m.s.l.) 200Average rainfall mm per annum 105Relative humidity % 90
Electrical Information
Total Contracted capacity MW (peak) 8.82Total quantity of PV modules Pcs 41580
Number of inverter/transformer stations Pcs 8Inverter station capacity MW 1.260Grid ConnectionConnection Voltage kV 11Transmission Line Length km 0.5Eskom Substation * Bulte
Technical
Technical – Permits & Consents
General (non-confidential) Financial and
Funding – Project Financing Structure
Jay & Jayendra (Pty) Ltd.(Black Enterprise Members)
SD France(Parent Company)
SDSA(Lead member)
Vredendal Solar Community Trust
Vredendal Solar Power Park (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%
General (non-confidential) Financial and
Funding
• Total estimated project cost R202 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
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%
Community Trust, BBBEE & Economic
Development
Local Ownership & BBBEE
• South African Ownership = 41.42%
• Project Company = Level 4
• Contractor = Level 4
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
CONCLUSION