Name and Location
Cookhouse wind power project, Eastern Cape, South Africa.
Client
The facility, which will operate for 20 years, is 25% owned by the local community through the Cookhouse Wind Farm Community Trust – an ownership level that is five times the governmental target for local community ownership.
The other shareholders include Old Mutual’s Infrastructural, Developmental and Environmental Assets Managed Fund, Afpoc, the African Infrastructure Investment Fund 2 (AIIFZ2) and Nederlandse Financierings Maatschappij voor Ontwikkelingslanden, through its investment in Apollo Investment Partnership II.
Project Description
The Cookhouse wind farm is located between Cookhouse and Bedford, in the Eastern Cape.
The wind farm will be the largest in Africa, consisting of 66 Suzlon 2.1 MW turbines, with an installed capacity of 138.6 MW.
The facility is expected to deliver about 370 000 MWh/y into the grid, equating to enough electricity to power 138 000 low-income homes or 57 000 medium-income houses.
Value
The value of the project is estimated at R2.4-billion, which is financed by Standard Bank of South Africa, Nedbank and Futuregrowth Asset Management.
Duration
Construction started in early February 2013.
Power was expected to be supplied to the Eskom grid by the second quarter of 2014.
Latest Developments
The 138.6 MW Cookhouse wind farm has completed all required performance tests and grid compliance to reach commercial operations and reach the commercial operations date (COD).
While the project is not the first to achieve COD, it is the first to connect to Eskom’s transmission network.
CEO Jannie Retief says the facility is expected to deliver about 370 000 MWh yearly into the grid, equating to generating enough electricity to power 138 000 low-income homes or 57 000 medium-income houses.
The Suzlon team, which will remain on site for most of 2015, will train 15 technical staff recruited from the Eastern Cape, who will form the long-term operations and management team.
Key Contracts and Suppliers
African Clean Energy Developments (wind farm development); Standard Bank of South Africa, Nedbank and Futuregrowth Asset Management (finance); Suzlon Wind Energy South Africa (main contractor), and Globeleq, Afpoc, AIIF2, and IDEAS (construction equity).
On Budget and on Time?
Too early to state.
Contact Details for Project Information
Suzlon, tel +91 20 4012 2000, fax +91 20 4012 2100/2200 or email suzloncorpcomm@suzlon.com.
AFPOC, tel +949 436 2939, fax +949427 2905 or email office@afpoc.org.
Macquarie investor relations, tel +61 2 8232 5006, fax +61 2 8232 6346 or email macquarie.shareholders@macquarie.com.
Old Mutual media contact Suzanne van Schoor, tel +27 21 504 4390; or
media consultant Lisette Lombard, tel +27 21 509 3318.
Globeleq media enquiries, tel +44 20 7 234 5400, fax +44 20 7 234 5486
or email info@globeleq.com.
Industrial Development Corporation, tel +27 11 269 3000, fax +27 11 269 3116 or email callcentre@idc.co.za.
Standard Bank investor relations, Linda Dodgen, tel +27 11 636 5039 or
email investorrelations@standardbank.co.za.
Nedbank head of investor relations Alfred Visagie, tel +27 11 295 6249,
cell +27 82 855 4692 or email alfredv@nedbank.co.za; or investor relations consultant Penny Him Lok, tel +27 11 295 6549, cell +27 82 781 1888 or email pennyH@nedbank.co.za.
African Infrastructure Investment Managers, Thor Corry, tel +27 21 670 1215 or email Thor.Corry@aiimafrica.com.