EIB, FirstRand Bank to provide EUR 400m for green projects in S Africa
Sep 13, 2024 10:36 CESTSouth African renewable energy developer Red Cap Energy has achieved a financial close on a 330-MW wind project in the Eastern Cape province and is preparing to launch construction works this month.
The scheme includes the installation of three separate wind farms of 110 MW each near Oyster Bay, all of which will begin commercial operations in 2025, the developer said in a LinkedIn post. Official documents show that the project is a partnership between Red Cap and Enel Green Power.
The Impofu wind parks will use a total of 57 turbine generators installed across 12 land sites and hooked to a 116-km powerline. The complex, once built, will be the largest “pure private renewable energy plant in South Africa,” according to Red Cap Energy. Its construction is expected to take between 18 and 24 months to complete.
The facilities will supply green power to the synthetic fuels plant of chemicals and energy company Sasol Ltd in Secunda, in the eastern province of Mpumalanga, where France's Air Liquide operates 16 oxygen production units.
Red Cap Energy has so far brought online 191 MW of wind farms, among which is the 80-MW Kouga park in Eastern Cape, and has an additional 1.5 GW of projects in its development portfolio.
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