In South Africa, the Multilateral Investment Guarantee Agency (MIGA) has allocated a guarantee of $ 115.8 million to four solar and wind power plants in South Africa. The infrastructures concerned are the Aggeneys (40 MW) and Konkoonsies II (75 MW) solar power plants as well as the Golden Valley (147.6 MW) and Excelsior (32.5 MW) wind power plants.
The two solar power plants have coverage of $ 46.9 million and the wind power plants have a guarantee of $ 68.9 million. These guarantees cover the risk of currency transfer and inconvertibility, expropriation, breach of contract, war and public conflict for a period of 15 years.
“We are pleased to continue to collaborate with our experienced investors and to promote investments in Africa despite the pressure on the global environment. Increasing the capacity of renewable energies will meet demand while diversifying the South African energy mix, ” said Hiroshi Matano, Executive Vice-President of MIGA.
Source: Agence Ecofin