RustMo1, is a 19Ha farm being developed 22km east of the city of Rustenburg and is part of the Department of Energy’s IPP Renewable Procurement Program.
RustMo1 was awarded their IPP license in November 2012 and the solar farm is currently being constructed and is due to be completed before the end of 2013.
RustMo1 has appointed an independent Environmental Control Officer (ECO) from Savannah Environmental. The ECO remained full time on site during the main part of construction when the land was disturbed. The ECO monitors and advises on all aspects of environment and safety on site; the ECO carries out periodic environmental audits and prepares a monthly report that is submitted directly to the Department of Energy.
The ECO monthly reports for the project hereunder:
The project debt financiers for RustMo1, Nedbank and the IDC, have implemented the Equator Principles for this project. The Equator Principles is described as “a financial industry benchmark for determining, assessing and managing social & environmental risk in project financing”. These Principles were developed to provide assurance that financial institutions would provide financing or advisory services for large capital projects only if they were developed in a socially and environmentally responsible manner. The Equator Principles are based on the standards and guidelines used by the International Finance Corporation and the World Bank.
According to an independent review of the environmental and social impact assessments of Project RustMo1 Solar Farm conducted by Ove Arup & Partners Ltd, there are no impacts of a High Residual Significance, i.e. impacts considered to be of high significance that would require stringent mitigation measures to be in place. RustMo1 has been categorised as a Category B Project under the Equator Principles.
As part of the Equator Principles Environmental and Social Action Plan, Quarterly Reports on the compliance to the Equator Principles are submitted to the Lenders.
Quarterly ESAP Reports: