South Africa set for €160m wind farm

GDF SUEZ has taken a 43 per cent stake in a 94 MW wind farm in South Africa.

The €160m ($212m) West Coast One wind project is located 130 km north of Cape Town and is owned by a GDF SUEZ-led consortium. Asset management group Investec owns 34.5 per cent, South African investment company Kagiso Tiso Holdings has a 20% interest and the remaining 2.5 per cent will be allocated to a community trust.

The consortium was selected as preferred bidder for this project in May 2012 and signed a 20-year power purchase agreement with South African state utility Eskom. The wind farm is expected to be operational in 2015.

GDF SUEZ chairman Gerard Mestrallet: “West Coast One demonstrates our growth ambitions in fast growing markets, and supports South Africa’s objective of increasing the contribution from renewable power in its generation mix.”

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