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Local Communities

South Africa

We participate in social and economic development in South Africa under our agreement with the Department of Energy of South Africa in relation to Kaxu, our 100 MW solar asset located in the Khai Ma Local Municipality of Northern Cape Province.  We own Kaxu in partnership with IDC which holds 29% stake in Kaxu and Kaxu Community Trust, a BBBEE, trust which holds 20% stake in the project. BBBEE is the Broad-Based Black Economic Empowerment, an affirmative action programs launched by the South African government to address the inequalities by giving certain previously disadvantaged groups of South African citizens economic privileges previously not available to them.

As part of our economic development obligations of the agreement to bring a positive impact to the local communities, Kaxu contributes 1.1% of our revenues to be reinvested in the activities offered to the local communities that lies within a 50-km radius from its site.  A local workgroup SEED+, created for this purpose with our business partners, executes and supervises these activities hand-in-hand with the management team of Kaxu.  The workgroup holds monthly open-door meetings with communities to identify needs and concerns and reports quarterly to the local authorities on the progress of activities, committed investments, among other things.

From March 1, 2016 to April 30, 2017, Kaxu funded approximately 9.9 million ZAR (approximately $0.7 million) in SEED+ community activities.  From March 1, 2017 to April 30, 2018, Kaxu invested approx. 10.3 million ZAR (approximately $0.8 million). SEED+ also collaborates with local partners such as Bright Future Aftercare, a program managed by the Catholic Church nuns.

Algeria

In Algeria, during 2017, we donated approximately $44 thousand to the local communities near our two water desalination plants in Algeria.  These donations contributed to the purchase of an ambulance for the town of Honaine, financed needs of an orphanage and a senior citizen residence in Skikda, among others.

Peru

In 2017, we donated approximately $15 thousand to different local communities located near our transmission lines.  The donations contributed to the reinforcement of a local road infrastructure as well as improvements made in communal housing in some rural communities, among others.with local partners such as Bright Future Aftercare, a program managed by the Catholic Church nuns.