Weekly Intelligence Brief: November 3-10

Abengoa, BrightSource Energy, Palen Solar Holdings, California Energy Commission, FLABEG FE GmbH, ACWA Solafrica Bokpoort CSP Power Plant (Pty) Ltd., ACWA Power and Abengoa Yield.

Two killed and seven injured in an accident at a CSP tower plant in South Africa

The accident occurred on 3 November at the Khi Solar One construction site in South Africa, when a crane collapsed causing the death of two employees, a 26 year old woman and a 31 year old man. A further seven people were injured and, according to a statement released by Abengoa, the developer of the project, “six of them have already been discharged from hospital”.

Local media outlets indicated that “a severe storm with high speed winds” had been the cause for the crane falling. The roughly 200 meters structure collapsed and fell over different office buildings located at the foot of the tower. According to witnesses cited in different publications, “the tower structure was seriously damaged”.

The company expressed its condolences to the families of the workers who died in the accident and wished those who are injured a quick and full recovery.

Abengoa to continue with the Palen project

The Spanish company announced it has acquired BrightSource Energy's interest in the Palen Solar Energy Generating Station (PSEGS) project.

The project will now incorporate a large storage system, “to better meet the needs of the energy market in California”, as indicated in a written statement issued by the company on Tuesday 4 November.

Upon finalization of the purchase transaction, Abengoa will become the sole developer of the project. It will continue to use tower technology, but the company will now propose molten salt storage.

This project has endured numerous setbacks and in September 2014, Palen Solar Holdings (which consisted of BrightSource Energy and Abengoa Solar) announced that they were no longer pursuing the project.

The initial plan for Palen was to construct two 250 MW towers. However, only one tower has been approved by the California Energy Commission.

FLABEG FE’s completes delivery of solar mirrors for the Bokpoort CSP Project

The German manufacturer of solar mirrors, FLABEG FE GmbH, has completed the delivery of more than 240.000 RP3 mirrors for the Bokpoort CSP project in South Africa.

The 50 MW project is located in the Northern Cape Province and is owned by ACWA Solafrica Bokpoort CSP Power Plant (Pty) Ltd. The technology used is parabolic trough and the plant has nine hours of thermal energy storage, which makes it a CSP plant with the one of the highest storage capacities in the world.

FLABEG FE produces flat and curved mirrors for all CSP technologies – parabolic trough, dish Stirling, power tower and linear Fresnel systems, as well as customized mirrors for CPV applications. The company is wholly owned by the Saudi-Arabian ACWA Holding.

Abengoa Yield announces pricing of the US $255 million notes due 2019

The company has priced the offering of US $255 million senior notes due 15 November 2019, guaranteed by certain subsidiaries of Abengoa Yield. It has also ndicated they will accumulate an annual interest of 7.000%, payable semi-annually.

According to a press release issued by the company, Abengoa Yield will use the profits of the offering to finance the purchase from Abengoa S.A. of three renewable energy assets. The acquisition, which amounts to $323 million in total, will be financed with cash on hand.