The South African solar energy become more attractive, not only based on improvements on the legal framework, but also due to the declining in respect of specific costs in respect of specific costs for solar PV systems and storage systems. The demand for PV gained momentum and opportunities for market entry were generated.
TMM Renewables was created at that time aiming to become a leading Independent Power Producer in the Renewable Energy market in Africa. To support the development of TMM Renewables strategy, TMM established a strategic partnership with Gesto Energy Consulting.
The main goal of this project was the development of projects to be submitted into the 3rd bid window of the RE IPP Procurement Programme of South Africa.
The Development of Solar PV power plants includes the following activities:
Legal: Establishment of local special purpose vehicle; Conclusion of shareholders agreement; Conclusion of EPC Contractor heads of terms;
Environmental: Due diligence on acquired licensing and permits and application for further required licenses and permits; Proof that all the required licensing and permits were in place;
Technical: Resource evaluation and procurement of independent auditor; EPC procurement, evaluation and selection; Technical solution optimization; Application for grid connection works to ESKOM; Establishment of a Joint Venture for the development of a local O&M Company;
Financial: Financing structuring and arrangement; Financial modelling and procurement of an independent auditor;
Location identification: 2 x 20 MW Solar PV project.