Cox Energy Acquires Majority Stake in South African CSP Plant
- Cox Energy SAB de CV to acquire majority stake in Khi Solar One, Africa's first CSP tower plant, boosting output by 30% with upgrade program.
Spanish-Mexican green power company Cox Energy SAB de CV has agreed to acquire a 51% stake in the 50-MW Khi Solar One concentrated solar power (CSP) plant in South Africa. Pending approval, Cox Energy will become the majority owner, with the remaining 49% held by local shareholders. Khi Solar One, operational since 2016, is the first CSP tower plant in Africa and is located near Upington in the Northern Cape province.
The project, part of South Africa's Renewable Energy Independent Power Producer Procurement Program, has a 20-year power purchase agreement with Eskom. Cox Energy plans to manage the plant's operation and maintenance until 2036 and aims to increase its annual output by over 30% through an upgrade program starting in August 2024.
What are the details of Cox Energy's acquisition of Khi Solar One in South Africa?
- Cox Energy SAB de CV has agreed to acquire a 51% stake in the 50-MW Khi Solar One concentrated solar power (CSP) plant in South Africa.
- Pending approval, Cox Energy will become the majority owner, with the remaining 49% held by local shareholders.
- Khi Solar One is the first CSP tower plant in Africa and has been operational since 2016.
- The plant is located near Upington in the Northern Cape province.
- The project is part of South Africa's Renewable Energy Independent Power Producer Procurement Program.
- Khi Solar One has a 20-year power purchase agreement with Eskom.
- Cox Energy plans to manage the plant's operation and maintenance until 2036.
- The company aims to increase the plant's annual output by over 30% through an upgrade program starting in August 2024.
