“In addition, the agreement will oversee the installation of a 228 kW/912 energy storage facility.
This development follows after Ncondezi announced in April to have identified significant market demand for cost-effective and reliable power in the African Commercial & Industrial (C&I) sector.
The solar PV project has been developed by GridX and is based on providing a 24-hour off-grid energy solution. The solar facility has been designed to produce 660,000 kWh per annum, providing over 90% of the hotel’s power needs.
The energy generated will be utilised to provide power for the lodge’s daytime load and for charging the battery pack. The remaining power (estimated at <10% of overall needs) will be generated by the installation of a 165 kVA diesel generator which is part of the project design envelope and as back up for periods of low solar power generation or sustained high power consumption levels.
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The project will generate revenues through a 15 year US$ denominated offtake contract and is targeted to generate revenues of $198,000 in its first 12 months following it becoming operational.
Revenues will be escalated by 2.0% annually thereafter. The project replaces existing generators and is expected to provide the offtaker with cost savings of $80,000 per year, equivalent to a 29% cost reduction.
The project commissioning date is targeted within 8 months, with cashflows due to start in Q2 2020."
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ESI Africa 25 October 2019.