Noupoort Mainstream Wind

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The 80MW Noupoort Wind Farm reached financial closure in February 2015, as Mainstream Renewable Power or the sponsor of the project announced that it had closed financing for its three-wind-farm-portfolio, including Noupoort Wind Farm. It was a part of Window 3 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) by Department of Energy (DoE). This BOO project worth of US$160 million would entail the development of wind farm located in Northern Cape, composed of 35 wind turbines when completed. This facility was expected to generate approximately 305,000MWh each year of renewable energy to the national grid, Eskom and would be located 11 km from the Eskom 132kV overhead line. When operating at full capacity, it was expected to supply enough electricity to power approximately 70,000 average South African homes and avoid roughly 300,000 tonnes of carbon emissions each year. The project company was South Africa Mainstream Renewable Power Noupoort Pty Ltd and it was led by Lekela Power(40%), a joint venture between Actis, and Mainstream Renewable Power. Other members include Thebe Investment Corporation (10%); The IDEAS Managed Fund (Old Mutual Life Assurance Company South Africa) (25%); Futuregrowth Asset Management(Old Mutual Life Assurance Company South Africa) (5%); Genesis Eco-Energy in partnership with Lereko Metier Sustainable Capital(15%); and the Noupoort Renewable Energy Trust(5%), which was established with the objective of carrying out public benefit activities to assist the local community through economic development. Lekela Power was a pan-African renewable energy platform which aimed to provide 1,000MW of wind and solar power by 2018. It was a 60:40 joint venture between Actis, the global pan-emerging market private equity firm, and Mainstream Renewable Power, the global wind and solar company. Debt financing was provided by ABSA Bank Limited, Development Bank of Southern Africa, and EKF. The financing details have not been disclosed yet and will be updated soon when publicly available. In July 2015, a ground-breaking ceremony took place at the Noupoort Wind Farm, which was one of the first to start construction as part of the third round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). In addition to the Noupoort Wind Farm, Mainstream is currently constructing another two wind farms in the Northern Cape, totalling 360MW and representing an investment of approximately $722 million (ZAR9 billion). http://www.nersa.org.za/Admin/Document/Editor/file/Consultations/Electricity/Presentations/South%20Africa%20Mainstream%20Renewable%20Power%20Noupoort%20(Pty)%20LTD.pdf Project cost of US$160 million is calculated by "project capacity/total wind farm portfolio capacity x total investment for portfolio. 80/360*722=160 (US$ million)