ACWA Power’s Bokpoort Concentrated Solar Power Plant Breaks African Record

ACWA Power’s Bokpoort Concentrated Solar Power Plant Breaks African Record
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ACWA Power’s Bokpoort Concentrated Solar Power Plant Breaks African Record

ACWA Power’s Bokpoort Concentrated Solar Power Plant Breaks African Record

ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants worldwide, announced Wednesday that its South African Bokpoort CSP plant has become the first renewable facility in the continent to complete a full week of continuous round the clock operation.

Bokpoort CSP set the new African continental benchmark achieving 13 days (312 hours) of continuous operations on Oct. 23, 2020, which translates to approximately 13GWh of energy supply to the grid at an energy load factor of 83%, and 20 hours of full load operations daily (with a 50MW turbine) akin to base-load technologies — almost double the previous record it had set in March 2016.

This accomplishment was made possible by optimally managing 9.3 hours of the thermal salt storage system overnight, which allowed for a perfectly timed transition to the solar field every morning for the entire duration of this effort.

The plant delivered the highest ever production for the months of August and September and has continued to deliver an excellent performance in October 2020, achieving an all-time highest daily record of 1,028MWh earlier this month, despite global challenges and lockdown protocol arising from the COVID19 pandemic.

The 50 MW concentrated solar power (CSP) plant with thermal storage was commissioned during the 2nd bidding window of South Africa’s Renewable Energy Independent Power Producer Program (REIPPP) and has been setting consistent records, since commencement of its commercial operations in 2016.



IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
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IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)

The International Monetary Fund said on Wednesday it reached a staff-level agreement with Egypt on the fourth review under its Extended Fund Facility arrangement, potentially unlocking a $1.2 billion disbursement under the program.

Egypt, grappling with high inflation and shortages of foreign currency, agreed to the $8 billion, 46-month facility in March. A sharp decline in Suez Canal revenue caused by regional tensions over the last year compounded its economic woes.

The IMF said Egypt's government had agreed to increase its tax-to-revenue ratio by 2% of gross domestic product over the next two years, with a focus on eliminating exemptions rather than increasing taxes.

This would give it space to increase social spending to help vulnerable groups, the IMF said in a statement.

"While the authorities' plans to streamline and simplify the tax system are commendable, further reforms will be needed to enhance domestic revenue mobilization efforts," the statement said.

Egypt had agreed to make more decisive efforts to ensure the private sector became the main engine of growth and to sustain its commitment to a flexible exchange rate, the IMF statement added.

The staff-level agreement of the fourth review must still be approved by the IMF's executive board.