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Enel Green Power RSA, the South African subsidiary of Italian utility Enel Group, on 1 August announced financial close at five wind power plants in South Africa which are expected to cost €1.2bn to build. Senior loans worth €950m are being provided by South African banks Nedbank and Absa and Enel is contributing €230m in equity.
The plants – Nxuba and Oyster Bay in the Eastern Cape, Garob, Karusa, and Soetwater in the Northern Cape – will each have a capacity of around 140MW, generating 2.6TWh/yr. They were selected in the fourth round of the country’s renewable energy independent power producer procurement programme.
For Nxuba, Karusa, and Soetwater, Enel is partnered with local developer Pele Green Energy, which holds a 30% stake in the projects. For Oyster Bay and Garob the local partner Khana Energy, a joint venture between Red Cap Consult and Gamiro Investment Group, which also owns 30% stakes. Local trusts own 10% of each project.
Construction is expected to begin by the end of the year at the first plant, Nxuba, which should begin operating in H2 2020. Oyster Bay and Garob will begin construction in H1 2019 for commissioning in H1 2021 and H2 2021 respectively. Work will begin at Soetwater and Karusa in H2 2019 for commissioning in H2 2021. Once operational, Enel will have operate plants with combined capacity of 1.2GW in South Africa.
Enel currently operates the 88MW Nojoli and 111MW Gibson Bay wind farms in the Eastern Cape as well as solar photovoltaic plants at 82.5MW Paleisheuwel in the Western Cape, 66MW Tom Burke in Limpopo, 10MW Upington and 82.5MW Adams in the Northern Cape, and 82.5MW Pulida in Free State.
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