Major Western Cape wind project financed

Project Focus

Major Western Cape wind project financed
Wind farm

Investec and Kagiso Tiso Holdings have reached financial close for a R2.2-billion, 94-megawatt wind project on the Cape West Coast, 130 kilometres north of Cape Town.

The project is expected to reach commercial operation in mid-2015 and was selected as a preferred project in May last year, following the second bidding round under the Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme.

It was one of 19 projects, collectively representing 1 044MW of capacity, that advanced to the point of signing 20-year power purchase agreements with Eskom in early May this year, bringing the number of active large-scale renewables projects in South Africa to 47.

Private wind, solar and mini-hydro developers are expected to invest about R75 billion over the next few years, raising South Africa’s installed renewables base to 2 460MW.

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