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African Clean Energy Developments says its Msenge Emoyeni project is the countrys first private utility scale scheme African Clean Energy Developments has reached financial close with its lender Rand Merchant Bank on the 69MW Msenge Emoyeni Wind Farm, which it says is South Africas first utility scale private wind project. This marks the effective date of the PPA between Sasol South Africa Limited (“Sasol”) and Msenge for the supply of renewable energy to Sasol’s Sasolburg site via a wheeling arrangement. The power will be used to secure renewable energy supply for green hydrogen production. African Clean Energy Developments (ACED) represents a consortium of co-sponsors and equity investors consisting of itself, African Infrastructure Investment Managers (AIIM) and Reatile Renewables (Reatile). ACED and AIIM are co-sponsors and the equity in Msenge is owned 62% by AIIM, through its flagship IDEAS Fund, and 38% by Reatile. Rand Merchant Bank, a division of FirstRand Bank Limited (RMB), has partnered the consortium as sole mandated lead arranger for the project. The Msenge Wind Farm is the first utility scale private wind farm in South Africa with its power wheeled across the national electricity grid. It is also the first of several renewables projects that the consortium intends to bring into construction in 2023. ACED is a leading renewable energy developer that has already spearheaded the delivery of more than 1200MW of renewable energy under the Department of Minerals and Energy’s REIPPPP process and 30MW in the commercial and industrial market. Msenge wind farm is located near the town of Bedford, about 200km North of Gqeberha in the Eastern Cape province of South Africa. The farm was originally developed by Windlab South Africa but has been acquired, further developed and financially closed by ACED and AIIM. ACED will also manage construction and another AIIM affiliate, Energy Infrastructure Management Services (EIMS), will manage operations once construction is complete. James Cumming, ACED’s general manager, said: ACED are very proud to have reached financial close and construction commencement on this much needed South African first, and we look forward to getting to the commercial operation date on Msenge for Sasol. It’s an amazing achievement by a large team of many businesses and advisors, that comes with a huge amount of hard work and sacrifice that we are very grateful for. We look forward to doing more of that in 2023 and beyond. |
