Name of the Project
Kangnas Wind Farm and Perdekraal East Wind Farm.
Location
The Kangnas Wind Farm is located near Springbok, in South Africa’s Northern Cape province. The Perdekraal East Wind Farm is located 80 km northeast of Ceres, in South Africa’s Western Cape province.
Client
The equity members of the projects include African Rainbow Energy & Power; H1 Holdings; local community members through established community trusts, with shareholding funded by other project equity partners; Lekela; Mainstream Renewable Poweralong with a consortium of investors such as the International Finance Corporation and the Rockefeller Brothers Fund; and Old Mutual Life Assurance Company.
Project Description
The project entails the construction of two wind farms with a combined capacity of 250 MW.
Kangnas will have a 140 MW capacity and Perdekraal East a 110 MW capacity.
The projects were awarded under the South African Department of Energy’s fourth round of the Renewable Energy Independent Power Producer Procurement Programme.
Potential Job Creation
Not stated.
Value
The projects represent an investment of about R6.6-billion.
Duration
The projects were expected to start construction in June 2018.
Latest Developments
The projects reached financial close in June this year.
Key Contracts and Suppliers
Absa (debt); Simmons & Simmons and White & Case (lenders’ legal adviser); Fasken and Stoel Rives (sponsor legal counsel); Concor and Conco (construction contractor) and Siemens Gamesa Renewable Energy (supply and installation of wind turbines).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Mainstream Renewable Power, tel +27 21 657 4040.
H1 Holdings, tel +27 21 201 6432 or email info@h1holdings.co.za.
Lekela, tel +44 203 301 6280 or email info@lekela.com.