- Red Rocket South Africa and its partners are completing financing for its Brandvalley, Rietkloof and Wolf wind projects.
- The wind farms are being built under public-private partnerships (PPPs).
Red Rocket South Africa declared the financial closure of its projects in South Africa after EDF Renewables. The Brandvalley and Rietkloof wind projects of the independent power producer (IPP) located in Cape Town, South Africa, have completed financing. The projects are being carried out as part of the 5th cycle of the Renewable Energy Independent Power Producer Procurement Programme. They were created by G7 Renewable Energies and taken over by Red Rocket (REIPPPP).
The three wind farms were approved for funding, building, and operation by Red Rocket by the South African Department of Mineral Resources and Energy on October 28, 2021, including the projects currently in the construction phase. IPP has also secured the structure of the 84 MW Wolf Wind Farm in the Eastern Cape. With a combined capacity of 280 MW, the Brandvalley and Rietkloof wind farms will be built in the Western Cape.
Red Rocket estimates that the Brandvalley, Rietkloof, and Wolf wind farms will provide 1,500 GWh of clean electricity annually once they are operational, assisting in lowering the carbon dioxide (CO2) emissions related to electricity generation in South Africa.
Together with the South African investment firm H1 Holdings, Jade-Sky Energy, the African Infrastructure Investment Managers (AIIM) IDEAS fund, and regional community trusts, Red Rocket is working to construct these three renewable energy projects. The South African government-owned utility Eskom will purchase the electricity produced by the upcoming wind turbines. The investment required by Red Rocket and its partners is 9.3 billion South African Rands or more than $537 million.