Community Trust

Eight percentage of De Aar Solar Power is owned by Sibona Ilanga Trust, this percentage is significantly higher that the government’s minimum threshold of 2,5% local ownership.

Sibona Ilanga_300dpiColourTo finance its share of the cost of constructing the project, the trust secured a loan from the Development Bank of South Africa (DBSA). The loan will be repaid through the shareholder dividends generated by the project and once repaid the trust will use its share of the dividends to benefit the local community within 50km of the project.

 

Majority shareholder, Globeleq is jointly managing the construction of De Aar Solar Power and will play a key role as the management company during operations.