South Africa Mainstream Renewable Power Khobab Wind (RF) Pty Ltd; Loeriesfontein 2 (RF) Pty Ltd; Noupoort (RF) Pty Ltd; Kangnas (RF) Pty Ltd; and, Perdekraal East (RF) Pty Ltd
On June 6, 2018 & December 29, 2017, MIGA issued guarantees totaling US$121.2 million to Lekela Power BV of Netherlands for its equity and shareholder loan investments into five wind farm projects in South Africa against the risks of Expropriation, Transfer Restriction and Inconvertibility, Breach of Contract, and War and Civil Disturbance for up to 15 years.
The wind farm projects will have a collective generation capacity of 610 MW and were selected as preferred bids during the third and fourth rounds of the South African Renewable Energy Independent Power Producers Procurement Program (REIPPPP).
The project is a categorized as A under MIGA’s Policy on Environmental and Social Sustainability. Click here for the Project’s Environmental and Social Review Summary.
The Projects, which leverage private capital to support over 600 MW of clean energy, will directly advance the objectives of the South Africa’s 2030 National Development Plan, by increasing the availability of energy in the country, creating the conditions for inclusive growth and development. The projects also have a long-term commitments to advancing social development, by reinvesting a portion of revenue into the communities local to the wind farms.
The Project is also in line with MIGA’s strategy which emphasizes supporting investments that address climate change.