Cox Acquires Stake in Khi Solar

Key Figures & Findings: Spain-based Cox Abg Group SA involved in the generation and distribution of renewable energy, as well as providing energy utility services has acquired a 51% controlling stake in South Africa’s Khi Solar One, a 50-MW concentrated solar power (CSP) plant located near Upington in the Northern Cape. The facility, which combines cutting-edge thermal storage and heliostat technology, currently generates 100 GWh annually. With the remaining 49% held by local partners, the acquisition underscores Cox’s commitment to renewable energy in Africa. This milestone follows regulatory approval from South Africa’s Department of Mineral Resources and Energy and financial backers.

Statistics & Insights: Khi Solar One operates under a 20-year power purchase agreement with South African utility Eskom, ending in 2036. Cox projects an annual EBITDA of EUR 21 million ($ 22.1 million) to EUR 23 million, with planned upgrades expected to increase energy output by over 30%.

Future Implications: By 2036, Cox could leverage this project to expand its renewable energy footprint in Africa, fostering innovation in CSP technology. If successful, these upgrades might serve as a model for efficiency improvements in other green energy initiatives worldwide.

Source: Renewables Now