UKCI invests in 250 MW of South African wind projects
UK Climate Investments has agreed to invest around GBP14 million (US$16.9 million) to support development of 250 MW of wind projects in South Africa.
The investment programme will fund developer H1 Holdings, a majority black-owned and managed clean energy proponent, to build the 140 MW Kangnas wind farm in Northern Cape province and 110 MW Perdekraal East wind farm in Western Cape.
The financing will be provided through an innovative funding mechanism developed by UKCI in close consultation with H1 Holdings and designed to support Black Economic Empowerment (BEE) entities.
The projects will source 40 per cent of construction, operations and maintenance staff from local communities.
The projects are expected to be completed by the end of 2020 and provide enough clean electricity to power nearly 200,000 homes each year. During their lifetime, they will help avoid approximately 844,000 tonnes of greenhouse gas emissions per annum.
A 4 MW hydro project in Free State province will also benefit from investment.
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