Mainstream Renewable Power has announced the completion of financial close for three wind farms in South Africa with a combined capacity of 360MW.
In October 2013 a consortium led by Mainstream was awarded the contracts for the three wind farms by the Department of Energy in South Africa under the third round of its Renewable Energy Procurement Programme. The wind farms, which are all located in South Africa’s Northern Cape Province, represent an investment of approximately US$ 760 million and are expected to commence construction this month. The South African wind farms that have reached financial close are the 140MW Khobab Wind Farm, the 140MW Loeriesfontein 2 Wind Farm and the 80MW Noupoort Wind. The debt for the projects has been arranged and underwritten by Barclays and the Development Bank of Southern Africa. The consortium of Murray & Roberts and Conco has been appointed as construction contractor and Siemens Wind will supply and install the wind turbines.
