CORE ENERGY (RF) (PTY) LTD
Who is our client
Core Energy is a project company established with the purpose of developing, constructing, owning and operating a 30MW solar plant situated Northeast of Johannesburg, South Africa. The project shareholders are SEGP Renewable Energy Southern Africa (Pty) Ltd, Public Investment Corporation SOC Limited and Kurisani Witkop (Pty) Ltd.
FMO's financing will fund part of the costs entailed by the construction of the solar plant. The project is jointly funded by other financial institutions, one of whom is FMO's partner, Standard Bank.
Why we fund this project
The project is part of South Africa's Renewable Energy Independent Power Producer Procurement Programme, a scheme aimed at reducing the country's reliance on thermal energy. By funding the proposed projects, FMO supports greater private sector involvement and the growth of renewable energy production in a well regulated energy market - the largest on the African continent, which itself is amongst the largest greenhouse gas emitters in the world.
- South Africa
- Signing date
- Total FMO financing
- ZAR 75.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)