Image: The Energy Blog
French multinational electric utility company Engie has acquired both a 40% equity stake in the Xina Solar One power plant from Spanish infrastructure, energy and water company Abengoa, and a 46% interest in its operations and management company.
Located in the Northern Cape of South Africa, the 100 MW concentrated solar power plant, built by Abengoa, began operations in 2017. The plant is located nearby one of Engie’s existing 100 MW power plants, Kathu CSP, enabling cooperation between the two facilities.
“With the acquisition of this project, Engie is pursuing its low carbon strategy,” said Sebastien Arbola, CEO, Engie MESCATA. “Xina augments the country’s installed peaking power and reduces its dependence on coal-fired electricity. The 100 MW CSP plant also contributes to Engie’s geographic rationalization by expanding its footprint in South Africa.”