Project Beta
South Africa
MGT Solar (PTY) LTD
Reg. No. 2020 / 251758 / 07
All are shares currently 100% held by Megatech (PTY) LTD
Project Beta is a 60MW farm and will include a 100MWh state of the art storage technology to ensure maximum profitability and the opportunity to sell green renewable energy at peak rates to blue chip listed entities who have already signed the commitment for off-take.
Key Features
- Availability of existing infrastructure (roads, water) and electrical grid with sufficient spare capacity, to allow injection without any grid reinforcements.
- High solar irradiation levels and low costs of land.
- Appropriate zoning and environmental considerations.
- Level land with no or limited gradient an no significant shading from vegetation, hills or structures.
- No fatal flaws on the soil condition, agricultural potential or land claims.
- In the proximity of a settlement, town or village so that the SED and ED initiatives reach the groups it was intended for.
Land Arrangements
- Option to enter into long-term lease for 20 years.
- Entire plot of 1155 hectare (east of Hertzogville, Free State Province) has been secured through an exclusive lease option.
- Hertzogville is on the R59, about 2 hours north-east of Kimberley, and 4 hours south-west of Johannesburg.
- The site is approximately 12km from Hertzogville, on the R708 road to Bultfontein (47km away, approximately 25,000 inhabitants).
- The town of Hertzogville is approximately 9,500 people, of which the Malebogo township houses approximately 8,500 people.
- The maximum PV plant size is determined by the size of the SALA consent, being 115 hectares..
The Site
- Availability of existing infrastructure (roads, water) and electrical grid with sufficient spare capacity, to allow injection without any grid reinforcements.
- High solar irradiation levels and low costs of land.
- Appropriate zoning and environmental considerations.
- Level land with no or limited gradient an no significant shading from vegetation, hills or structures.
- No fatal flaws on the soil condition, agricultural potential or land claims.
- In the proximity of a settlement, town or village so that the SED and ED initiatives reach the groups it was intended for.
Project Company
Technology
Project Data
Ownership & Key Contractual Relationships
Key Features of the PPA and Implementation Agreement
- Take or Pay and deemed energy where necessary
- 20 Year PPA, from scheduled COD, and 12 months from commercial close
- Denomination in ZAR with escalation linked to SA CPI.
- Seller will exceed Economic Thresholds of SA
- Seller to make, provision for decomissioning and close
- Tariff can be adjusted at close to make provision for FOREX and Interest Fluctuations.
- Changes in law regime and force majeure fully addressed
- Provision for direct agreement between Lenders and Buyers
- Defined Consequences in event of Buyer or Seller default.
- Power Pool concept of reserve off-take options in case of default
Permits and Licenses
- Environmental Authorisation issued
- Secure Approval from the Heritage Authority.
- Consent for Civil Aviation Commissioner.
- Rezoning Applications for Projects site Approval received.
- PC and Landowner concluded agreement to register servitudes.
- ESKOM Cost Estimate Letter received.
- Non Binding Letter from DWAF ( Department of Water Affairs and Forestry received).
- DMR Mineral rights Consent letter in terms of Section 53 of the MPRDA.
- All biodiversity consents received.
- Option for Land lease secured – with secure rights to project site
- DAFF Act 70 of 1970 received.
- Advisors to the Project Company signed off Due Diligence.
- No fatal flaws on the soil condition, agricultural potential or land claims
MGT Solar (Pty) Ltd 100% Owner of Project
- Innovative vertically-integrated Solar PV platform as Asset backing a Crypto Token.
- Megatech (MGT) runs a Binance Smart Chain, sustainability blockchain with sub-second transaction speeds.
- Megatech (MGT) runs a Binance Smart Chain, sustainability blockchain with sub-second transaction speeds.
- By unleashing the synergies between our extremely qualified, experienced and competent team members in the crypto and power supply industry we believe we can create the most valuable ICO project ever.
- Due to the high demand for electricity supply in especially Africa, and the biggest obstacles in creating feasible and sustainable green energy solutions we needed to combine state of the art solar energy technology, revolutionary storage technology and a dynamic funding model to ensure minimum turn- around time and exponential profitability.
MGT Solar (Pty) Ltd - PV / Battery Project Developer
Serves as Project Developer for and on behalf of Megatech MGT (PTY) LTD for the asset. Will lead the EPC consortium, providing a bankable EPC contract with appropriate construction and performance guarantees. Microedge’s involvement will be arranged through arms-length contracts, with structures that are customary in non-recourse project finance
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