Mainstream Renewable Power has reached a $520m financial close for two South African windfarms.
The Kangnas and Perdekraal East Wind Farms have a combined production capacity of 250MW.
South Africa’s Department of Energy (DoE) awarded the windfarms contracts to a consortium led by Mainstream under the fourth round of the ‘Renewable Energy Independent Power Producer Procurement Programme’ (REIPPPP)
Construction works on the two windfarms are expected to begin this month at the sites in South Africa’s Northern Cape and Western Cape. Mainstream Africa general manager Hein Reyneke said: “Our team here in South Africa is really excited to reach financial close and start constructing these projects, which will bring an $87m community investment over 20 years once they start operating in 2020.
“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.”
Since 2011, Mainstream has been awarded a total of 848MW of wind and solar projects under the REIPPPP programme.
Mainstream is said to have already delivered five wind and solar PV plants into operation under the programme, with a combined generation capacity of 600MW.
Reyneke said: “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.”