BioTherm Energy Secures 251MW in Round 4 of Renewable Energy Program from South African Department of Energy
April 15, 2015 - BioTherm Energy, a South African entity and an African-based independent power producer, re-inforced its position as a leading renewable energy company following the South African Department of Energy’s (DOE) announcement of Preferred Bidders of Round 4 of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP). The company recently secured preferred bidder appointment for three projects, the 120MW Golden Valley Wind facility, 45MW Aggeneys Solar PV and 86MW Konkoonsies II Solar PV Facility, totaling 251MW of installed capacity.
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, a leading 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.
"We congratulate the team at BioTherm on securing preferred bidder status for these three South African projects,” said Scott Mackin, Denham Capital managing partner and co-president. “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 stated: “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.”
Nyker further stated, “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,” added Mackin. “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. ”
In addition to being awarded preferred bidder status for the wind and solar projects in South Africa, the company has also recently garnered success in the rest of Africa. It was awarded preferred bidder status on four solar power projects in Zambia and secured two preferred bidder solar projects in Burkina Faso. BioTherm Energy was also a finalist in the Ugandan GET FiT solar facility program and is actively developing greenfield opportunities in East and West Africa.
“BioTherm’s focus on sub-Saharan Africa is equally important to its growth strategy in South Africa,” shared Nyker. “Regionalized growth of renewable energy such as wind or solar offers significant economic development and assists in improving the local manufacturing and services value chain. The recent announcement of the Round 4 projects adds to South Africa’s energy evolution and is a further step towards establishing a sustainable, low carbon environment. We are committed to being a leader in Africa’s renewable energy rollout by ensuring that its projects are built on time, budget and also that they create sustainable economic development in the communities in which they operate.
On Behalf of BioTherm Energy
For interviews: Jasandra Nyker, CEO, firstname.lastname@example.org; Tel 011 367 4600