Suzlon signs 138 MW firm order in South Africa; site construction already commenced
Notice to Proceed to commence construction of the Cookhouse Wind Energy Facility located in the Eastern Cape Province of South Africa.
Suzlon to supply 66 S 88 turbines totaling 138.6 MW for the Cookhouse Wind Farm in the Eastern Cape Province of Republic of South Africa under Turnkey EPC contract
Suzlon to perform Operations and Maintenance
Largest renewable energy project selected during Round One of the Department of Energy’ Renewable Energy Independent Power Producers Procurement Programme
Pune / Johannesburg:
Suzlon Group, the world's fifth largest wind turbine supplier, announced the receipt of Notice to Proceed to commence construction of the Cookhouse Wind Energy Facility located in the Eastern Cape Province of South Africa. Suzlon will supply 66 s.88 2.1 MW turbines to the project.
The Cookhouse Wind Farm is the largest renewable energy project selected during Round One of the Department of Energy’ Renewable Energy Independent Power Producers Procurement Programme. Financial Closure was achieved in late December 2012 with construction commencing in January 2013.
The Cookhouse Wind Farm was developed in partnership with African Clean Energy Developments (ACED), a South African based renewable energy project developer owned jointly by African Infrastructure Investment Managers (a company held by Old Mutual Investment Group - South Africa - and Macquarie Capital) and AFPOC Limited.
Working closely with its appointed Mandated Lead Arrangers, The Standard Bank of South Africa Limited and Nedbank Limited, ACED closed a financing package which notably includes a significant portion of Broad Based Black Economic Empowerment ownership.
Debt Finance will be provided by The Standard Bank of South Africa Limited, Nedbank Limited and Futuregrowth Asset Management Proprietary Limited whilst equity will be provided by AFPOC Limited, African Infrastructure Investment Fund 2 Partnership, African Infrastructure Investment Fund 2 (Mauritius), Apollo Investment Partnership II, Old Mutual Life Assurance Company (South Africa) Limited and the Cookhouse Wind Farm Community Trust.
The Cookhouse Wind Farm Community Trust holds 25 per cent equity in the project, foreseeing significant yield from the project, in addition to socio-economic development in the local communities. Local communities of Cookhouse, Bedford and Somerset East will be beneficiaries of the trust.
Suzlon Energy Limited
One Earth, Hadapsar, Pune –411 028, India
“Suzlon” 5, Shrimali Society, Navrangpura, Ahmedabad –380 009, India
Speaking on the development, Mr. Thomas Donnelly, Managing Director –ACED, said: "Commencement of construction of the Cookhouse Wind Farm, along with all other projects selected in Round 1 of the Department of Energy’ Renewable Energy Independent Power Producers Procurement Programme, marks a major milestone for independent power producers in South Africa. The successful implementation of such projects will not only result in a cleaner energy base for South Africa, but will help to empower rural communities through job creation and community ownership of projects.”Mr. Tulsi Tanti, founder, Chairman - Suzlon Group, said: "The financial closure of the Cookhouse project marks the commencement of our aspirations for South Africa. This project will not only deliver clean energy but also create many decent and sustainable 'green' jobs. The leadership of the country has laid down the foundation for the development of a green future and we are proud to be leading the way."
Mr. Silas Zimu, CEO - Suzlon South Africa said: "Cookhouse is my first project with Suzlon and holds great significance. This was the largest project selected under the first round of the tender process, which in itself is a great recognition of the capabilities of the company. The fact that the community is so closely involved in its development gives me immense satisfaction –we have always aimed for development through local empowerment. I look forward to working with ACED in driving the growth of the South African wind energy market."
About Suzlon Group:
The Suzlon Group is ranked as the world’ fifth largest* wind turbine supplier, in terms of cumulative installed capacity, at the end of 2011. The company’ global spread extends across Asia, Australia, Europe, Africa and North and South America with installations of over 20,000 MW and operations across 32 countries and a workforce of approximately 13,000. The Group offers one of the most comprehensive product portfolios –ranging from sub-megawatt on-shore turbines at 600 Kilowatts (KW), to the world’ largest commercially-available offshore turbine at 6.15 MW –with a vertically integrated, low-cost, manufacturing base. The Group –headquartered at Suzlon One Earth in Pune, India –comprises Suzlon Energy Limited and its subsidiaries, including REpower Systems SE. Visit us at www.suzlon.com