Mainstream consortium wins 238MW government contracts in South Africa

The consortium led by Mainstream Renewable Power was awarded preferred bidder status by the Department of Energy in South Africa to deliver 138MW of wind energy and 100MW of solar PV into commercial operation by 2014.

The award was made under the first round of the South African Government’s Renewable Energy Procurement Programme. The projects which represent an investment of ZAR 5 billion (€460 million) are expected to reach Financial Close by June 2012 and commence construction shortly thereafter. The equity members of the consortium consist of:

• Globeleq, an experienced operating power company.
• Thebe Investment Corporation; one of South Africa’s most established broad based BEE Investment management companies.
• Local Engineering firms Enzani Technologies and Usizo Engineering.
• Local Community Members.
• Mainstream Renewable Power.

The projects have been co-developed by Mainstream and its local partner, the renewable energy developer Genesis Eco-Energy who has been active in South Africa since 2001. The consortium’s strategic delivery partners include Absa Capital which has fully underwritten the debt for the three projects as well as Siemens, Suntech and Group Five Iberdrola on the technical delivery aspects of the projects. The projects awarded are:

• Jeffreys Bay 138MW wind farm located in the Eastern Cape.
• De Aar 50MW Solar PV farm located in the Municipality of Emthanjeni in the Northern Cape.
• Droogfontein 50MW Solar PV farm located near the town of Kimberley in the Northern Cape.