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TerniEnergia Signed Contracts to Construct 148.5MW PV projects in South Africa

Published on 1 Aug 2014
July 31, 2014 - TerniEnergiasegment has signed two definitive agreements for the EPC (engineering, procurement and construiction) and O&M (operation and maintenance) activities for the construction in South Africa of two PV plants for the total power capacity of 148.5MW.

In particular, the contracts following the framework agreements communicated to the market on October 31, 2013, and concern the installation by TerniEnergia Projects PTY Ltd of two photovoltaic plants with "EPC Contract" (turnkey) with the supply of panels and inverters, respectively, in Paleisheuwel for an installed capacity of 82.5MW and in Tom Burke for 66MW, for a total consideration of approximately ZAR 2 billion, corresponding to the current exchange rate to approximately Euro 147 million.

The effectiveness of the two contracts is subject to the signing of the financial closing between the final customer company and the South African Government. Because of this circumstance, the time schedule of the start of construction sites, previously announced opening within the month of August, 2014, is deferred to the date of the agreement that will be determined by the South African authorities. TerniEnergia, therefore, has taken immediate steps for the human resources management, requesting access to the italian institution of Ordinary Earnings Supplement Fund.

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