Mainstream Renewable to develop 250MW of wind projects in South Africa
The Dublin-based renewable energy company, Mainstream Renewable, has announced that it has secured funding to develop 250MW of wind capacity in South Africa.
The firm will be developing the 140MW Kangnas Wind Farm, which will be located in the Northern Cape, and the 110MW Perdekraal East Wind Farm in the Western Cape.
The cost of the two farms is expected to cost ZAR6.6bn (US$521mn), which companies such as Lekela and Old Mutual Assurance Company to provide equity.
Construction on the sites is anticipated to begin in June, with the wind farms to be operational by 2020.
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“Our team here in South Africa is really excited to reach financial close and start constructing these projects, which will bring a $87mn community investment over 20 years once they start operating in 2020,” stated Hein Reyneke, General Manager for Africa at Mainstream.
“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 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.”