The total project cost is estimated at circa R2.4 billion. The Project is financed on a non-recourse project finance basis, with approximately 75 percent of the project funded through senior and junior debt arranged and underwritten by Rand Merchant Bank. The shareholders are funding all the equity in the Project by ordinary shares and shareholder loans. Intikon Energy, SolarReserve and Kensani (the developers), have been developing the Project since the fourth quarter of 2009.