Global wind and solar company Mainstream Renewable Power reports that construction will begin this month on three new South African wind farms, which recently reached financial close following the third bid window under the country’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).
The projects, which are all in the Northern Cape, will have a combined capacity of 360 MW and involve an investment of around R9-billion. They include the 140 MW Khobab and the 140 MW Loeriesfontein 2 wind farms, both located in Namakwa, and the 80 MW Noupoort wind farm, located in Umsobomvu.
A consortium comprising Murray & Roberts and Conco has been appointed as construction contractor, while Siemens Wind will supply and install the wind turbines.
The three projects will increase to nearly 600 MW the amount of renewable-energy capacity introduced by Mainstream Power and its partners in South Africa since 2011 across six projects. It currently has 238 MW of wind and solar projects, selected during REIPPPP round one, in commercial operation.
In fact, MD onshore procurement, construction and operations Barry Lynch claims that the Dublin-domiciled group has been awarded more megawatts than any other developer under South Africa’s REIPPPP, through which more than 60 projects, with a combined capacity of around 4 000 MW, have been procured, facilitating a investment of more R120-billion.
Besides Mainstream Renewable Power, the other equity participants include Actis, through its Actis Energy 3 Fund, Thebe Investment Corporation, Old Mutual’s IDEAS Managed Fund, Futuregrowth Asset Management, and Genesis Eco-Energy in partnership with Lereko Metier Sustainable Capital and local community trusts.
The debt for the projects has been arranged and underwritten by Barclays and the Development Bank of Southern Africa, while Simmons & Simmons and Bowman & Gilfillan acted as the lenders’ legal adviser, supported by Fasken Martineau and Stoel Rives, which acted as sponsor legal counsel.
“We are delighted to have recently delivered three wind and solar farms from round one into commercial operation on budget and once again we are working with many of the same debt and equity partners, construction contractors and turbine supplier,” Lynch outlined in a statement.