Local renewable energy developer African Clean Energy Developments (ACED) was awarded preferred bidder status by South Africa’s Department of Energy (DoE).
Under the Renewable Energy Independent Power Producer (IPP) Procurement Program, ACED will develop a 138-MW wind energy project in the Eastern Cape. The Cookhouse Wind Farm will require an investment of about $3 million over the next two years and is expected to reach financial close by June 2012.
Other key players include project debt underwriters Nedbank and Standard Bank and construction equity providers Globeleq, AFPOC Ltd., AIIF II, IDEAS, and the Industrial Development Corp. of South Africa. In addition, 15% of the project will be owned by the Cookhouse Wind Farm Community Trust, a community trust on behalf of members of the local communities of Cookhouse, Bedford, and Somerset East.
Thomas Donnelly, ACED managing director, said: “We are confident that the Cookhouse Wind Project will be a major success story through on time delivery of the project and implementation of a comprehensive Economic Development Plan that will see significant job creation and skills transfer for local communities and the provision of a positive social and economic outcome for marginalized regions.”
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