News flash
- South African IPP, Red Rocket, has reached financial close on the first 242-MW phase of the Overberg Wind Farm near Swellendam in the Western Cape.
- The project will deliver around 750 GWh yearly of wheeled electricity to the Rio Tinto’s Richards Bay Minerals under a 20-year power purchase agreement (PPA).
- Commissioning is set for Q1 2027.
The project is South Africa’s largest privately developed single wind farm with a total of 380MW developed in two phases. The first phase will feature 39 Goldwind 6.2 MW turbines.
The project is financed through a club deal involving Absa Bank, acting through its Corporate and Investment Banking division; Standard Bank, acting through its Corporate and Investment Banking division; and the Development Bank of Southern Africa.
Author: Bryan Groenendaal
