Norsad hunts for renewable opportunities

Norsad’s Investment Director, Oteng Sebonego told last week’s resources infrastructure and energy forum that the firm was open to proposals around green field developments, companies looking to self-generate their own electricity, those looking to reduce their carbon emissions as well as those looking at industrial-scale solar.

He said in its 30-year history in Africa, Norsad has put debt into renewable energy, such as in Zimbabwe and a 20 megawatt solar and hydro project. Sebonego said rather than funding house to house renewable installations, Norsad preferred to deal with a company that was involved in those types of initiatives. He explained that the firm prefers smaller projects of 20MW and less and for greenfield developments, requires that applicants have an Independent Power Producer licence, as well as a Power Producer Agreement indicating the tariff to be charged.