February 1, 2013
Suzlon signs 138 MW firm order in South Africa; site construction already commenced
- 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 contractSuzlon to perform Operations and Maintenance
- Suzlon to perform Operations and Maintenance
- Largest renewable energy project selected during Round One of the Department of Energys 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 Energys 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.
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 Energys 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."
