Kangnas Wind Farm and Perdekraal East Wind Farm

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The project entails the construction and operation of two wind farms, located in South Africa's Northern and Western Capes. Kangnas Wind Farm and Perdekraal East Wind Farm have capacity of 140 MW and 110 MW, respectively. These are greenfield projects initiated under BOO modality. The concession contracts were awarded to the sponsors - Mainstream Renewable Power, International Finance Corporation, Rockefeller Brothers Fund, Lekela Power, Old Mutual Life Assurance Company, African Rainbow Energy and Power, H1 Holdings and a community trust in the South Africa Government Renewable Energy Independent Power Producer Procurement Program. The contracts was awarded following a competitive bidding process based on lowest tariff. The wind farms have signed PPAs for a period of 20 years. Total project cost is estimated to reach 6.6 billion rand ($524.8 million). Financial closure was achieved on June 5th, 2018. ABSA bank is leading the project financing but as of July 2018 the other lenders and split is not disclosed. https://ijglobal.com/data/transaction/38991/kangnas-wind-farm-140mw-and-perdekraal-east-wind-farm-110mw https://renewablesnow.com/news/mainstream-led-tie-up-wins-250-mw-of-s-africa-wind-projects-479544/ https://renewablesnow.com/news/mainstream-achieves-fin-close-for-250-mw-of-s-africa-wind-615191/