Red Rocket Wolf

Red Rockets Onshore Wind Portfolio - Term Loan

Borrower (s)
Industry
Renewables/Onshore wind
Area of finance
Project & Infrastructure Finance
Region
Africa
Countries
South Africa

Deal Overview

Red Rocket has closed on the financing of three wind farms in South Africa. The deal funds Brandvalley and Rietkloof, two 140MW projects in the Western Cape, and the 84MW Wolf project in the Eastern Cape.The projects were awarded preferred bidder status in October 2021, under Round 5 of the...

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Red Rocket has closed on the financing of three wind farms in South Africa. The deal funds Brandvalley and Rietkloof, two 140MW projects in the Western Cape, and the 84MW Wolf project in the Eastern Cape.

The projects were awarded preferred bidder status in October 2021, under Round 5 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

The total project cost is ZAR12 billion ($650 million). Red Rocket will be complemented on the equity side by Old Mutual-owned fund manager IDEAS Infrastructure and Jade-Sky Energy. The scheme is underpinned by a 20-year PPA with Eskom.

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Deal Volume
$120m
Financial Close
23 February 2023

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Projects

288 MW Brandvalley Onshore Wind Farm Project

Greenfield
Onshore wind
Africa
South Africa
$255.01m

54 MW Rietkloof Onshore Wind Farm Project

Greenfield
Onshore wind
Africa
South Africa
$255.01m

31 MW Wolf Onshore Wind Farm Project

Greenfield
Onshore wind
Africa
South Africa
$153.01m