[miningmx.com] – EXXARO Resources said it had raised R7bn in funding for two wind farms with India’s Tata Power Company that will generate 229MW in an initiative that is part of South Africa’s renewable energy programme.
Finance was raised through Standard Bank, Nedbank Capital and the International Finance Corporation with R1.8bn to be financed in equity contributions from Exxaro and Tata Power working through their clean power joint venture Cennergi.
The 95MW Tsitsikamma Community wind farm near Clarkson in the Eastern Cape province “is expected to achieve commercial operation from its 31 turbines in 2016,’ Exxaro said. Cennergi owns 75% of the project with Watt Energy, with a community development trust holding the rest.
The Amakhala Emoyeni wind-farm project, located near Bedford in the same province, will produce 134MW from 56 turbines.
