EDF Renewables in South Africa achieved Financial and Commercial Close on 18 January 2023, on Coleskop Wind Power (Pty) Ltd – the third of its Koruson 1 projects, which were awarded in the Renewable Independent Power Producer Programme (REIPPP) Bid Window 5.
The Coleskop Wind Farm is located in the vicinity of Middelburg, in the Umsombomvu Local Municipality, on the boundary of the Eastern Cape and Northern Cape Provinces. It is expected to reach commercial operations by the beginning of 2025.
“I am proud to announce that, as anticipated, our Coleskop wind project has reached Commercial and Financial Close today, as anticipated. Following on the Financial Close of Phezukomoya and San Kraal, on 10 November 2022, it means that the construction phase of all three wind farms, totalling 420 MW, is now fully underway. This is greatly satisfying for the project team and the consortium, after the lengthy bid process, and in the context of an emergency to deliver more power to the National Grid,” said Tristan de Drouas, CEO of EDF Renewables in South Africa.
Each project will comprise 26 wind turbines, with a hub height of 124m and a blade length of 83m. EDF Renewables is also constructing the Koruson Main Transmission Substation (MTS) on behalf of Eskom, under a self-build agreement (SBA), which will be transferred to Eskom upon completion. The projects will sell power to Eskom under a 20-year PPA.
The low-carbon renewable electricity produced each year by the three wind farms will help to meet the electricity needs of approximately 193,000 South African households.
Through the three Koruson 1 projects, EDF Renewables has committed to providing 2230 job years, which includes more than 590 full-time jobs for South African citizens during the construction period of two years, and 50 full-time jobs during the operating period of twenty years. Approximately 40% of the project value will comprise local content, and during operations, 1.2% of revenue generated by the projects will be applied to socio-economic development initiatives for nearby local communities.
The projects, developed by a highly skilled consortium led by EDF Renewables in South Africa, together with its local BEE partners, H1 Holdings, GIBB-Crede and a local community trust, were awarded preferred bidder status in October 2021, under Round 5 of the Renewable Energy Independent Power Producer Programme.
EDF Renewables in South Africa, the lead sponsor in the transactions, is a locally based, fully integrated independent power producer that develops, finances, builds, owns and operates commercial renewable energy generation facilities, including wind, solar PV, battery storage and hybrid solutions. EDF Renewables in South Africa is a subsidiary of, EDF Renouvelables, the renewable energy arm of the global utility EDF.