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Deal closed on first utility-scale, private wind project in South Africa

March 20, 2023

African Clean Energy Developments has reached financial close with its lender Rand Merchant Bank on the 69MW Msenge Emoyeni Wind Farm, which it says is South Africa's first utility scale private wind project. 

This marks the effective date of the PPA between Sasol South Africa Limited (“Sasol”) and Msenge for the supply of renewable energy to Sasol’s Sasolburg site via a wheeling arrangement. The power will be used to secure renewable energy supply for green hydrogen production.

African Clean Energy Developments (ACED) represents a consortium of co-sponsors and equity investors consisting of itself, African Infrastructure Investment Managers (AIIM) and Reatile Renewables (Reatile).

ACED and AIIM are co-sponsors and the equity in Msenge is owned 62% by AIIM, through its flagship IDEAS Fund, and 38% by Reatile.

Rand Merchant Bank, a division of FirstRand Bank Limited (RMB), has partnered the consortium as sole mandated lead arranger for the project.

[Staff Report]

More: 69MW South African wind farm reaches financial close

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