Red Rocket obtained funding to launch the first phase of the Overberg Wind Farm near Swellendam in the Western Cape.
The wind farm will reach a total capacity of 380MW upon completion, with the first phase contributing 242MW.
Richards Bay Minerals (RBM), a Rio Tinto subsidiary, secured a 20-year Power Purchase Agreement (PPA) for 230MW of the wind farm’s capacity.
The wind farm will generate around 750 GWh of renewable electricity each year, reducing RBM’s carbon emissions by 700,000 tonnes of CO2—almost 30% of its total emissions.
The project will feature 39 Goldwind 6.2MW turbines, backed by financing from Absa Bank, Standard Bank, and the Development Bank of Southern Africa (DBSA).
The wind farm is scheduled to begin commercial operations in early 2027.
Developers of the Du Plessis Dam Solar PV2 project in the Northern Cape have secured funding, paving the way for expanded solar energy production in South Africa.
Mulilo and H1 Holdings are spearheading the development of this 75 MWac (105MWdc installed capacity) solar project near De Aar.
The solar farm will produce about 248 GWh of renewable electricity annually once it becomes operational.
Etana Energy, a South African electricity trader jointly owned by Chariot Limited (49%) and H1 Holdings (51%), has agreed to buy the entire energy output through a 20-year PPA.
Standard Bank issued an R1 billion payment guarantee, while Norfund contributed R372 million through a preference share investment.
GuarantCo and British International Investment have allocated a $100 million guarantee facility for the project.
Developers plan to start construction in the second quarter of 2025, with power transmission routed through the Kestrel Main substation built by Mulilo.
The initiative strengthens Etana Energy’s position in South Africa’s renewable energy market and reflects the growing demand for stable, clean power among industrial and commercial users.
source:pumps-africa.com
African Energy Council