Enel Green Power Reaches Financial Close for S. Africa Wind Projects
Enel Green Power RSA has signed financing agreements with Nedbank and ABSA for the construction of five wind projects.
In a statement released on Wednesday, the Italian group’s South African renewable energy company said the investment in the five wind farms is at an estimated €1.2 billion ($1.3 billion).
The projects, awarded in round four of the South African government’s Renewable Energy Independent Power Producer Procurement Programme are expected to be all operational by 2021. The Garob, Karusa and Soetwater projects will be constructed in the Northern Cape province while Oyster Bay and the Nxuba wind farms will be located in the Eastern Cape province.
The facilities will contribute an estimated 700 MW capacity, with Nxusa, Oyster Bay and Garob to start construction by the first half of 2019.
“We have reached an important milestone in South Africa by achieving financial close on five major wind projects which confirm our continuing commitment to the country’s renewable sector, within a context of substantial development,” said Antonio Cammisecra, Head of Enel’s Global Renewable Energies Division.
Each one of projects are minority owned by a local partner.