Karusa Wind Farm

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The project entails the construction of the 147MW Karusa wind farm, located approximately 45km north of Matjiesfontein and approximately 50km south south west of Sutherland across the borders of the Western Cape and Northern Cape provinces of South Africa. Sponsors of the project are Enel Green Power (60%), Hepax Trade and Invest, a Subsdiary of Khana Energy (35%) and Garob Community Trust Investment (5%). The facility benefits from a 20-year PPA with national Utility Eskom. The total value of the project is $270.28 million with a debt-to-equity ratio of 80:20. The debt was provided by Nedbank and ABSA Bank. The project achieved Preferred Bidder status under Round 4 of the REIPPP Programme in South Africa in April 2015 and has been brought to financial close in August 2018 in line with the progress of the REIPPP programme. IJGlobal http://www.ippjournal.com/news/ipptoday-259-enel-signs-us-1-1-billion-financing-for-700-mw-wind-projects-in-south-africa https://corporate.enel.it/en/media/press/d/2018/08/enel-green-power-signs-project-financing-for-up-to-950-million-euros-on-700-mw-of-new-wind-projects-in-south-africa--