Castalia Obtained $1.1 Million USTDA Grant for Pele

Castalia was successful in obtaining a $1.1 million grant from the United States Trade and Development Agency (USTDA) for the development of Pele Green Energy’s 75 MW solar project in Free State, South Africa.

The grant will fund most of the activities required to get the project to financial close, ranging from the feasibility study, the grid impact analysis and an assessment of offtake options, through to raising the debt and equity financing needed to construct the project. As Prime Contractor, Castalia will manage all of the grant-funded work and will take the lead in the financing of the project.

More info is available here.