The Department of Energy in South Africa recently announced seven successful wind farm projects following the third bid round of the Renewable Energy IPP Procurement Programme (REIPPPP). These projects were awarded preferred bidder status and represent a total capacity of 787 MW.
DNV GL is pleased to reveal that it is acting as the lenders’ technical advisor for five of the seven wind farm projects, representing a total capacity of 590 MW or three quarters of contracted capacity. This is a clear indication that DNV GL is the technical advisor of choice for successful wind farm developments in what is becoming one of the most buoyant global markets for renewables. DNV GL’s services are providing the technical confidence that the financial community requires to meet the large capital requirements of these leading projects.
Three of the five projects (Khobab, Loeriesfontein 2 and Noupoort) were developed by Mainstream Renewable Power. The debt for the projects has been arranged and underwritten by Barclays, the Development Bank of Southern Africa and EKF the Danish export credit agency. DNV GL advised Barclays as the lead arranger. The two remaining projects (De Aar Maanhaarberg and De Aar 2 North) were developed by China Longyuan Power and Mulilo Renewable Energy Limited. DNV GL advised Nedbank and the IDC as the main lenders on these deals.
Including projects which signed contracts in previous auctions, DNV GL is now advising a total of nine successful wind farm projects in South Africa. With an installed capacity of more than 1.05 GW, the projects represent more than half of the entire capacity of wind projects to have achieved preferred bidder status in South Africa‘s flagship renewables programme.
As the world’s largest renewable energy advisory, DNV GL is able to combine the benefits of in-country expertise and local offices with its global reach in support of the South African market. Large public renewable energy tender rounds are becoming more common around the world; an unmatched pool of talented engineers allows DNV GL to react quickly to the challenges of supporting numerous concurrent projects. Having secured a contract, winning projects can look forward to close support up to financial close, through construction and throughout the operational phase.
Filed Under: News, Projects