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GRF
GRF
GRF - Group Five Limited - Group Five clarifies the status of the building of a
R5 billion concentrated solar (CSP) plant
GROUP FIVE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/000032/06)
Share code: GRF ISIN: ZAE000027405
("Group Five")
Group Five clarifies the status of the building of a R5 billion concentrated
solar (CSP) plant
Group Five wishes to clarify the status around the media reports published over
the last few days that it is to construct a R5 billion concentrated solar (CSP)
plant in the Northern Cape.
Group Five made no formal announcement of its own on this subject, but can
confirm the following:
Group Five has purposefully developed a power plant construction competence over
the last six years and has a number of successfully completed projects already
in service in both South Africa and the broader African continent.
Through its Investments and Concessions and Engineering and Construction
businesses, the group is also actively involved in the development of a number
of renewable and gas fired power plants, and is participating in the Eskom "new
build" programme.
The National Energy Regulator (NERSA), Eskom and the South African government
are supportive of the introduction of renewable and low carbon power plants
into the national generation mix. This is illustrated by the introduction of the
Renewable Energy Feed in Tariff (REFIT) programme and the baseload independent
power producer (IPP) programme.
Because of its high levels of solar radiation, the Northern Cape is potentially
a popular destination for solar power investments and the project referred to
in the media is a potential project that is being developed that would supply
energy into the national grid through the government`s renewable energy
procurement process, which calls for prospective bankable projects to be
submitted for consideration during 2011.
The project and the REFIT process is at an early stage and detailed comments
around the project are therefore premature at this stage.
The group confirms its commitment to the national power programme and in
particular, to the development of renewable power in South Africa.
Johannesburg
31 March 2011
Sponsor
Nedbank Capital
Date: 31/03/2011 12:14:03 Produced by the JSE SENS Department.
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