INTELLIGENT BRANDS // Green Technology
Mainstream Renewable Power
completes financial close for
two wind farms in South Africa
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Mainstream Renewable
Power has completed
financial close for the
Kangnas and Perdekraal East
Wind Farms in South Africa
G
lobal wind and solar developer Mainstream Renewable
Power has completed financial close for the Kangnas and
Perdekraal East Wind Farms in South Africa, which have a
combined capacity of 250 megawatts (MW). Hein Reyneke, Mainstream’s General Manager for Africa said: “Our
team here in South Africa is really excited to reach financial close and
start constructing these projects, which will bring an US$87 million
community investment over 20 years once they start operating in 2020.
A consortium led by Mainstream was awarded the contracts for
the wind farms by the Department of Energy under the fourth
round of the Renewable Energy Independent Power Producer
Procurement Programme (REIPPPP). The wind farms, located
in South Africa’s Northern and Western Capes, represent an
investment of around U$520 million and are expected to
commence construction this month. “We look forward to the results of the expedited fourth round of
the REIPPPP, as well as further rounds, which are vital to securing a
sustainable long-term, least-cost energy plan for the country.
Mainstream has been awarded a total of 848MW of wind and solar
projects under the REIPPPP programme since 2011, making it the
country’s most successful independent renewable energy developer. It
has already delivered five wind and solar PV plants into operation under
the programme, with a combined generation capacity of 600MW.
It has bid many additional wind and solar PV projects under the
Expedited Round, the results of which are expected shortly.
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“Mainstream has been investing and building a local team in
South Africa for almost a decade and with a portfolio of more
than 3,000MW of wind and solar projects under development
here, we are delighted to be making a significant contribution to
building South Africa’s low-cost and low-carbon power system
while boosting rural communities.” Mainstream Renewable Power
is a leading independent developer of utility-scale wind and solar
power plants in high-growth emerging markets.
The company is developing projects in Egypt, Senegal and Ghana
and has raised €1.6 billion in project finance, as well as employing
and employs 160 staff. n
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