Mainstream Renewable Wins 1.27 GW of Renewable Projects In South Africa Auctions

Highlights :

  • This win makes Mainstream Renewable the leading renewable energy company in South Africa, with more than 2.1 GW awarded under REIPPPP to date
  • The twelve projects, through onshore wind and solar power, will generate enough clean energy to power a third of Cape Town’s annual electricity demand

The consortium led by Mainstream Renewable Power has received 50% of the total allocation in the latest round of the South African Renewable Energy Independent Power Producer Procurement Programme (REIPPPP)

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Making the formal announcement on October 29, the firm announced that twelve of its projects have achieved preferred bidder status in Round 5 of South Africa’s Independent Renewable Energy Producer Acquisition Program (REIPPPP). Wind and solar projects, which have a total capacity of 1.27 GW, represent half of the total allocation in the Round, which was the most competitive to date, being almost 4 times over-subscribed. Of the 1.27 GW, 450 MW is solar, while the remaining 824 MW is wind energy projects.

The win makes Mainstream the most successful company in the history of South Africa’s renewable energy procurement program, with more than 2.1 GW awarded to date. Included here is the amount of 850 MW of wind and solar generation assets that Mainstream has already delivered in commercial operation in Rounds 1, 3 and 4 of the REIPPPP. Mainstream has made a number of progress on the REIPPP, including the construction of South Africa’s first self-built substation, as well as the financial closure of the first projects and the completion of construction in Rounds 1, 3 and 4.

The Mainstream-led consortium, called “Ikamva” meaning “the future” in Xhosa, will deliver six onshore wind projects and six solar PV projects, including the first REIPPPP project in south Africa’s KwaZulu-Natal province. The consortium brings together a wide range of expertise, led by Mainstream’s 100% African team of over a hundred professionals, and comprises Globeleq, Africa Rainbow Energy & Power, H1 Holdings and local community trusts.

As a result of this concession, Mainstream will carry out the doubling of the size of its South African team and will actively hire another 100 South Africans to support the engineering and construction of the 12 projects. This will make Mainstream the largest employer of renewable energy in Africa.

The projects will produce approximately 4,500 Gigawatt hours (GWh) of green electricity each year, providing South Africa with critical, low-cost indigenous energy and progress in transitioning towards its climate and clean energy goals.

Mainstream’s global portfolio now stands at 16.2 GW. It follows the acquisition of 75% by Aker Horizons in early 2021, as well as the announcement of the new 1 GW Nazca Renovables platform in Chile in July.

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