Investing in the economy

CASE STUDY

!Khi Solar One  

!Khi Solar One is a 50MW concentrated solar tower power station to be located about 20km south-west of Upington in the Northern Cape. It was selected as a preferred bidder under Round 1 of the Department of Energy’s renewable energy independent power producer programme in December 2011. Once completed, it will be one of the largest concentrated solar tower power stations in the world. One of the benefits of this project relative to most other renewable energy projects is its ability to store energy and to deliver electricity to the grid during peak times.

The R3.9 billion project has been under development by Abengoa Solar of Spain and IDC since 2009. IDC’s current shareholding in the project is 29%, with the local community having a 20% share. Construction started in 2012.

Apart from the benefits that renewable energy generation brings, the project is creating around 1 000 construction jobs over the 24-month construction period, with 60 full-time jobs expected during the operation phase.

IDC will be working closely with local communities to assist with development plans for socio-economic projects which will also benefit the region and support rural upliftment.

Building partnerships

The IDC’s capacity-building interventions in South Africa and elsewhere in Africa are motivated by the benefits potentially emanating from assisting our clients and DFI business partners in developing their requisite skills and knowledge bases.

Investing in communities

The IDC has adopted a framework to guide the development of rural areas and an important part of the corporation’s leadership in industrial development strategy focuses on support for priority sectors identified in the New Growth Path and Industrial Policy Action Plan.


APPROVALS
R13.1 billion
DISBURSEMENTS
R16.0 billion
JOBS FACILITATED
18 922
JOBS SAVED
3 950
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