Globeleq Celebrates S. African Renewable Projects' Construction

Three projects, including a 138MW wind farm, are expected to be operational by mid-2014.

February 23, 2013
Manufacturing Group

Globeleq Generation Ltd., the emerging markets power company, celebrates the official start of construction of three renewable energy projects in South Africa during February.  The projects include the 138MW wind farm at Jeffreys Bay on the Eastern Cape and two 50MWp solar photovoltaic (PV) facilities located in the Northern Cape.  All projects are expected to be operational in mid-2014.

The three projects are part of the government of South Africa's Renewable Energy IPP Procurement Program and are among the very first large scale renewable power plants to be built in the country. Globeleq is the majority shareholder in a consortium comprised of Mainstream Renewable Power, Thebe Investment Corp., engineering firms Enzani Technologies and Usizo Engineering and local community trusts.  Old Mutual is an additional consortium member in the Jeffreys Bay Wind Farm.

"These renewable energy projects add to Globeleq's extensive African power generation portfolio and illustrate our ability to mobilize capital for sustainable and productive power generation investments," says Paul Kunert, head of Business Development for Africa. Globeleq looks forward to working with our consortium partners, the contractors and community to successfully build the project on time, safely and within budget."

During construction, the projects are expected to generate hundreds of jobs and, once operational, the project revenues will benefit the local community through socio-economic and enterprise development programs.  Each year the projects are expected to supply enough clean, renewable electricity to power more than 156,000 homes, displacing over 580,000 tons of carbon emissions each year. The two 50MW solar projects will be constructed by Siemens under a lump-sum turnkey EPC contract. The Jeffreys Bay Wind Farm will be constructed by Siemens and a South African consortium of Murray & Roberts and Conco.  Construction will be jointly managed across all three projects by Mainstream and Globeleq.