Mainstream to finance two major wind farms in South Africa

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Mainstream to finance two major wind farms in South Africa

Global renewable energy firm Mainstream Renewable Power has announced a financial close for two major wind farms in South Africa with a combined capacity of 250 megawatts (MW).
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The wind farms, 140MW Kangnas and 110MW Perdekraal ,located in South Africa’s Northern and Western Capes, represent an investment of approximately 6.6 billion Rand and are expected to commence construction June 2018.

Hein Reyneke, Mainstream’s General Manager for Africa said that the move paves way for construction to start on the projects.

“Our team here in South Africa is really excited to reach financial close and start constructing these two projects, which will bring a 1.1 billion Rand community investment over 20 years once they start operating in 2020-Hein Reyneke.

A consortium led by Mainstream was awarded the contracts for the wind farms by the Department of Energy in South Africa under the fourth round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

The programme is intended to securing a sustainable long-term, least-cost energy plan for the country.”

Mainstream Renewable Power has been awarded a total of 848 megawatts of wind and solar projects under the REIPPPP programme since the first round in 2011, making it the country’s most successful independent renewable energy developer.

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 whilst boosting rural communities.” said Mr Reyneke.

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