About Jasper Power Company
The Jasper project was jointly developed by SolarReserve, a U.S. developer of utility-scale solar power projects, Kensani Capital Investments a South African experienced empowerment infrastructure player and Intikon Energy, a South African developer of renewable energy projects.
What We Do
Approximately 180 000MW-hours annually
20-year government support PPA with Eskom
Length from North to South – 3km
Notice to proceed was issued on the 17th of June 2013, and construction began immediately thereafter. After a sixteen-month construction period and two months of early operating power, the project began its operations on the 17th of December 2014.
The project is based on a 20-year power purchase agreement with Eskom, the South African power utility. The project cost ZAR2.3 billion ($260 million) and has generated 44 permanent operational jobs.
Key Project Benefits
Clean, zero-emission solar energy in South Africa
Assisting South Africa meet its renewable energy targets
Direct and indirect employment
During the 20+ year operating life, the project will expend in excess of ZAR 2 billion on operations and maintenance costs
Enterprise Development and Socio-Economic Development investments
Achieved almost two months ahead of schedule
Percent Total project value is on local spend
Million man-hours to construct the plant
Percent of local content are B-BBEE providers
The Jasper Power Facility holds an electricity generation license permitting it to operate, generate and sell energy from a 75 MW-AC/ 96 MW-DC PV power station situated in the Northern Cape Province of South Africa. The facility comprises of 39 units of 2-MW-AC Ingeteam central inverter stations (each central inverter station consists of 2X1,019kW inverters). Approximately 325 600 modules were installed at the facility.
The project is financed on a non-recourse project finance basis, with a project cost of circa ZAR2.3 billion ($260 million). The completed power facility can generate enough clean energy to power approximately 80,000 homes.
Lenders of the project are Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, a leading African Investment Bank and part of one of the largest financial services groups in Africa, and the Development Bank of Southern Africa (DBSA). The DBSA is one of several development finance institutions in Southern Africa. Its purpose is to accelerate sustainable socio-economic development by funding physical, social and economic infrastructure.
At project inception the Engineering, Procurement and Construction (EPC) as well as the Operations and Maintenance (O&M) contracts were awarded to Group Five, and joint venture partners Iberdrola.
Today the Operations and Maintenance of the project is run in a joint venture partnership between GranSolar (GRS) and the Umbono Energy Group, collectively called Jasper OM (Pty) Ltd effective from the 17th of December 2019. With the appointment of Jasper OM (Pty) Ltd, Jasper now has a 51% Black owned operator GRS and its subsidiary is a company that specializes in the construction of photovoltaic plants and their connection to the grid as well as a multitude of integrated services and has operations in five continents.
Umbono Energy Group is a black-owned investor, developer and operator of projects in the natural resources and energy sectors, including early-stage development, definitive feasibility and full operational execution. In addition, 15% of Umbono is owned by 2 B-BBEE trusts focused on education and development with 5% set aside for entrepreneurial women empowerment.
Meet the Shareholders
“One of the most exciting opportunities created by renewable energy technologies like solar is the ability to help the world’s poorest develop faster – and more sustainably too.”
Provisional acceptance was achieved almost two months ahead of schedule with Eskom paying the Project Company approximately R 34m in Early Operating Power payments from 1st November 2014 – 17th Dec 2014.
Revenue Generation for the 2022 Operational Year was R 474,880,010 million and for the 2021 Operational Year it was R 489,586,615 million.
Enterprise Development (ED) and Socio-Economic Development Spend (SED) project spend for 2022 was R 3,141,945 million and R 7,214,144 million respectively.
Enterprise Development (ED) and Socio-Economic Development (SED) project spend for 2021 was R 3,442,248 million and R 8,572,956 million respectively.
Enterprise Development spend from 2015 to 2022 is R 22,791,611 million and for Socio-Economic Development R 56,979,028 million.