Good news for Mainstream Renewable Power, Globeleq and Africa Rainbow Energy & Power. These independent power producers in consortium have been awarded 50 per cent of the projects in the 5th round of the Renewable Energy Independent Power Producer Procurement (REIPPP). The 12 projects will result in the construction of 6 wind farms and 6 solar photovoltaic plants.
The Kentani, Sonoblomo, Braklaagte, Klipfontein, Klipfontein 2 and Leliehoek solar plants will each have a capacity of 75 MWp. The larger Rietrug, Sutherland, Waaihoek, Trakas and Beaufort Wester wind farms will each have a capacity of 140 megawatt, with the exception of the Dwarsrug wind farm which will be capable of delivering 124 megawatt.
Globeleq, the Majority Shareholder
Mainstream owns 100 per cent of the awarded projects, making it the lead shareholder in the consortium named “Ikamva”, which means “the future” in Xhosa, one of South Africa’s official languages with 8 million speakers. After the financial mobilization stage, Dublin (Ireland) based Independent Power Producer will hold a 25 per cent stake in the consortium, 26 per cent for UK-based Globeleq Independent Power Producer and 23.25 per cent for South Africa’s Africa Rainbow Energy & Power. H1 Holdings and the Community Funds will hold 23.25 per cent and 2.5 per cent respectively in Ikamva.
“Once fully operational, the projects will generate approximately 4,500 GWh of green electricity per year, contributing to the avoidance of nearly 5 million tons of CO2 per year. They will provide South Africa with essential low-cost indigenous energy and contribute to a just transition to its clean energy and climate goals,” Mainstream says.
The company, which is 75 per cent owned by investment firm Aker Horizons, has also worked with other partners to build 850 megawatt of wind and solar generation assets commissioned under REIPPPP Rounds 1, 3 and 4. To date, the Mary Quaney-led independent power producers has already been awarded the construction of 2.1 gigawatt of clean energy as part of the South African government’s energy transition efforts.
