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Parameters affecting CSP and PV solar projects-ACWA Power

2017.06.13     From: CSP Focus

Head-quartered in Saudi Arabia, ACWA Power is a world leading power and water developer, and renewable energy has been a crucial part of its strategy. In solar power domain, ACWA is well-known for developing PV projects like Shuaa Energy 1 in UAE and Noor PV, and CSP projects including NOOR 1&2&3 in Morocco and Bokpoort & Redstone in South Africa.


Table: Solar CSP Projects by ACWA Power                                                                          

 

Tech

 
 

Project

 
 

Country

 
 

Status

 
 

PCOD

 
 

Capacity

 
 

ACWA Share

 
 

Parabolic trough

 
 

Bokpoort CSP

 
 

South  Africa

 
 

Operation

 
 

Q1 2016

 
 

50

 
 

40.00%

 
 

Parabolic trough

 
 

NOOR Ouarzazate I

 
 

Morocco

 
 

Operation

 
 

Q1 2016

 
 

160

 
 

68.13%

 
 

Parabolic trough

 
 

NOOR Ouarzazate II

 
 

Morocco

 
 

Construction

 
 

Q2 2017

 
 

200

 
 

70.00%

 
 

Tower

 
 

NOOR Ouarzazate III

 
 

Morocco

 
 

Construction

 
 

Q4 2017

 
 

150

 
 

75.00%

 
 

Tower

 
 

Redstone

 
 

South  Africa

 
 

Advanced  Development

 
 

Q3 2018

 
 

100

 
 

50.00%

 

 

For the bidding on Dubai 200 MW CSP tower project earlier this month, ACWA consortium submitted the price of USD 9.45cents/kWh, creating the world-record low price for electricity generated from this technology.


As one of the global top solar CSP and PV project developers, ACWA Power is open to share experience and expertise on CSP project development. Below is the share on the topic about parameters affecting CSP and PV projects:


Relevant free Report: Challenges on Financing Solar CSP vs PV Projects


1. Country policy, economy, regulation and IPP scheme

  • Political and economic stability is key to the attraction for developers, lenders and all stakeholders and will drive higher competitiveness from PV and CSP stakeholders.

  • Countries with well-developed regulations, laws and stable tax regime will be more appealing to lenders and investors.

  • Strong public and private partnership PPP or PPA schemes are giving stable and predictable project economics with strong and sustainable cash flows, which is even more important to CSP than PV - Mainly because CSP more capital intensive and less proven.


2. Contractual-Power Purchase Agreement (PPA) terms

  • Strong PPAs provide visibility on long term cash flows and predictable revenues from electricity generation.

 

3. Climatic conditions and available land

  • Local solar irradiation is key for solar projects for both PV and CSP technologies and will impact on tariff for implementation of a sustainable and viable Project.

  • Dust alone and moreover when associated with humidity could be detrimental to solar energy production.

  • High temperature or high wind conditions could affect the electricity generation.

  • Large area is key to implementCSP and PV plants (less of a problem in Dubai and Morocco than in Europe.


4. Technical design

  • Optimal size of solar field: To achieve the best tariff taking into account capital expenditure and operational expenditure.

  • Cleaning: Equipment type, number of trucks, frequency to optimize O&M cost.

  • Flexibility of generation: CSP using thermal storage can fit the peak needs.

 

5. Technology risks

  • CSP technology especially tower technology is less proven to lenders. Driving the project contractual and financial schemes is the key risk.

  • PV technology is better known to lenders even for utility scales projects. High competition has driven PV tariff at very low level.

 

6. Financing risks and impacts

  • Macroeconomic situation and sovereign rating – political stability, economic situation of the country.

  • Technology risk and expected asset life - key drivers dictating the length of the potential debt tenor, the debt pricing and other financing conditions.

  • Off-taker strength -Mitigations of risks related with monthly payments and payment of termination amount from the off-taker.


Moreover, duringthe upcoming CSP Focus MENA 2017conference on Sept.13-14 in Dubai, Andrea Lovato, Executive Director-Head of Renewable Development, together with Senior Executive from Financing Department from ACWA Power will join the discussions on financing and local content for CSP projects.


SAVE USD 400 by registering before June 15 this THURSDAY.Click to register or get the event brochure.


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