Leading Advisors in Project Finance

  • Kangnas & Perdekraal East Wind Farms Reach Financial Close

    6 June 2018

    On May, 30 2018, Mainstream successfully reached financial close for the Kangnas & Perdekraal East wind farm projects in South Africa. The total investment across the two wind farms totals around $520m or ZAR 6.6 billion, and the combined capacity of these two sites is 250MW.

    The Kangnas & Perdekraal East contracts were part of Round 4 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), set up by the Department of Energy in 2011 to increase the electricity capacity of South Africa by 10,000 MW with a 2025 deadline.  After 6 rounds (including the intermediary rounds 3.5 and 4.5), just under 7GW of electricity capacity has been contracted, of which Mainstream is responsible for 848MW.

    Operis acted as the model auditor for the Kangnas & Perdekraal East Wind Farms projects, having worked with Mainstream at the round 4 bid submissions back in Q3 2014.

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