H1 Holdings is a proud 49% shareholder in three utility-scale solar hybrid storage projects, awarded Preferred Bidder status under the recent Risk Mitigation Power Procurement Programme. The projects will deliver 150MW contracted capacity. The three Scatec plants, known as Kenhardt 1, 2 and 3, will be built in the Northern Cape. The projects will generate 150MW of dispatchable power, with 225MW/1,140MWh of battery storage. Collectively the three projects will provide power from 05:00 in the morning until 21:30 at night, delivering much-needed electricity to the South African economy. The projects are the only exclusively renewable energy projects awarded in the emergency procurement round. Potentially one of the largest single site solar and storage hybrids in the world, the projects have an estimated capex of USD 1 billion. Financial close is expected later in 2021 with grid connection by the end of 2022.
Read more here and listen to a Moneyweb podcast interviewing H1 Holdings CEO Reyburn Hendricks. Watch the SABC News interview with Reyburn Hendricks. Listen to a SAFM interview with Scatec South Africa CEO Jan Fourie here.