Trade Ministers from South Africa and Saudi Arabia Inaugurate ACWA Power's Solafrica Bokpoort Concentrated Solar Power Project
JOHANNESBURG, March 15, 2016 -- Trade Ministers from South Africa and Saudi Arabia jointly inaugurated the Bokpoort Concentrated Solar Power (CSP) Project, which has been developed by a consortium led by ACWA Power in the Northern Cape Province of South Africa, marking the official launch of the R5 billion project. South Africa's Trade and Industry Minister, Mr. Rob Davies and Dr. Tawfig Fawzan Alrabiah, the Kingdom of Saudi Arabia's Minister of Commerce & Trade officiated at the ceremony, at the site, which will provide enough power to supply more than 200,000 homes. The project was developed as part of the government's Renewable Energy Feed in Tariff (REFIT) Procurement Programme, and will contribute significantly to the government initiative to augment much needed power capacity, attract foreign direct investment, and create jobs while also stimulating the country's economy. The tariff offered by ACWA Power at the second procurement window was 12% lower than the cap set by government for CSP technology at that round; in line with ACWA Power's mission to deliver reliable power at the lowest possible cost, thereby contributing to the economic development of South Africa and social welfare of its citizens.