Nojoli Wind Farm

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The 88MW Nojoli Wind Farm reached financial close, as Enel Green Power began construction in April 2015. This BOO project estimated at US$265.9 million** would entail the development of wind farm installed with 44 Vestas V100 2MW turbines, located 180 km North of Port Elizabeth in the Eastern Cape Province between Cookhouse and Bedford. It was a part of Window 3 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) by Department of Energy (DoE). The DoE selected six solar photovoltaic, seven wind, two concentrated solar power, one landfill gas and one biomass project as preferred bidders in October 2013 for the third round of its REIPPP and the sponsors for each project were scheduled to simultaneously sign power purchase agreements with state utility Eskom and reach financial close on 30 July. The financial closure was delayed mainly due to the insufficient transmission infrastructure for the generation facilities. On July 22, DoE confirmed that the 17 projects involved in the third round of REIPPP would not reach financial close on 30 July 2014, as planned. Unlike in previous rounds of the REIPPP, where the signing of project documents and financial close happened simultaneously, none of the Window 3 deals was expected to close before January 2015 at the earliest, according to sources working on the transactions. The project company was Nojoli Wind Farm (RF) (Pty) Ltd composed of Nojoli Wind Farm Community Trust (10%), Pele Green Energy (30%), and Enel Green Energy (60%). The details on the debt financing is not publicly available yet and will be updated soon. This new wind farm would have a total installed capacity of 88 MW and once fully operational it would generate more than 275 GWh per year, equivalent to the annual consumption needs of around 86,000 South African households, therefore avoiding the emission of more than 251,000 tonnes of CO2 into the atmosphere each year. The energy generated by this new wind farm would be sold to the South African utility Eskom through a 20-year power supply agreement. http://www.nersa.org.za/Admin/Document/Editor/file/Consultations/Electricity/Presentations/ACED%20Cookhouse%20South%20Wind%20Farm%20(Pty)%20Ltd.pdf Estimated cost of project based on ENEL's three investments: Gibson, Nojoli and Pulida for 630 million euros. Forex conversion used was 1.12 USD = 1 euro. Investment Figure to be filled! Not Available!