BioTherm Energy has secured preferred bidder appointment for three projects totaling 251 MW of installed capacity during the Round 4 of Sout Africa's Renewable Energy Independent Power Producer Procurement Program (REIPPPP).The projects are the following:
The African utility successfully constructed and now operates 49MW of wind and solar projects secured in Round 1 of the REIPPP Program. In addition, it owns and operates a 4.2MW waste gas project at the PetroSA Gas-to-Liquids (GTL) Refinery in Mossel Bay, Western Cape.
The company is backed by Denham Capital, an energy and commodities focused global private equity firm with more than US$7.9 billion of assets under management. In November 2008, Denham committed an equity investment of up to US$150 million to BioTherm to build and acquire a pipeline of renewable energy projects. At the time of making this investment, it was the largest renewable energy investment in Africa.
Scott Mackin, Denham Capital managing partner and co-president, stated:
"We congratulate the team at BioTherm on securing preferred bidder status for these three South African projects. BioTherm has established itself as a premier renewable developer in Africa, one that we are proud to support. Working with companies such as BioTherm, African governments can quickly and economically provide long-term power across the continent, enabling continued growth and growing prosperity for their economies.”
Jasandra Nyker, BioTherm Energy CEO commented:
“This 251MW allocation by the DOE reflects our ability to compete directly with leading international players who have come to dominate the South African landscape. We appreciate the DOE’s commitment to supporting a South African development and investment platform in this round.”
“BioTherm Energy has grown from strength to strength in the last four years, with successfully bringing online its Round I wind and solar assets on time and budget. This new allocation cements its position as a leading African-based renewable energy developer. We are truly a committed African Independent Power Producer, based in South Africa and employing Africans across the continent to develop quality renewable energy projects for many years to come.”
“We strongly believe building low-cost power solutions in countries with a fundamental need for new power generation fuels economic growth. This award build upon BioTherm’s success in securing projects in Sub-Saharan Africa and further validates BioTherm is an African renewable energy power producer developing power projects for Africa by Africans. ”