MIGA guarantees KaXu solar plant

MIGA has issued a $98.6 million guarantee to Atlantica Yield for the ownership and operation of the 100MW KaXu Solar One solar power plant in South Africa. The multilateral is providing protection from breach of contract, future returns and investments into the project.

KaXu is located in the northern Cape province in South Africa and was awarded in 2011 as part of the first round tender of South Africa’s Renewable Energy Independent Power Producer Program. The plant has been operating since 2015.