South Africa: Norfund invests in wind farms
Norfund is investing R365 million (about $20.2 million) in wind farms in South Africa under the new Norwegian Climate Investment Fund. Three wind farms with a total capacity of 420 MW will be built by EDF Renewables, and Norfund is investing in the project through its partnership with H1 Capital.
When the project is up and running, it will deliver more than 1400 GWh per year.
The Coleskop, San Kraal and Phezukomoya wind farms, each with a capacity of 140 MW, will be located in the Northern and Eastern Cape provinces, giving a combined capacity of 420 MW. EDF Renewables is developing these projects with its local B-BBEE (Broad-based Black Economic Empowerment) partners H1 Capital and GIBB-Crede. Norfund’s investment will contribute to the financing of H1 Capital’s investments in the projects.
EDF Renewables plans to commission its wind farms between mid-2024 and early 2025. Each farm will consist of 26 wind turbines with a height of 124 m and a blade length of 83 m. The installations are expected to be capable of meeting the electricity needs of at least 193,000 South African households.
The three projects will sell power to Eskom, the South African utility.