African Clean Energy Developments (ACED) and Energy Infrastructure Management Services (EIMS Africa) have reached financial close on the Ishwati Emoyeni wind farm with NOA Group Trading.
The wind energy project was led, co-sponsored and developed by ACED, with African Infrastructure Investment Managers’ IDEAS Fund and Reatile as shareholders.
The IDEAS Fund is one of South Africa’s largest domestic infrastructure equity funds.
The Ishwati Emoyeni wind farm and the ACED-EIMS-IDEAS-Reatile generation consortium was the first large-scale renewable energy project to sign a PPA (Power Purchase Agreement) with renewable energy aggregator NOA.
NOA received its trading licence from Nersa (South Africa’s National Energy Regulator) on 31 January, allowing the company to purchase all renewable energy generated by the wind farm.
The project is expected to start generating electricity in 2026 and consists of 32 Vestas 4.5 MW wind turbines.
It is adjacent to two other projects of the consortium of the same size, the Umsinde Emoyeni and Khangela Emoyeni wind farms.
“This is the first large-scale renewable project in South Africa to reach financial close with a power trader as off-taker,” said NOA Group CEO Karel Cornelissen.
ACED CEO James Cumming added: “We are delighted to have closed and started construction on this complex and pioneering project, the first large-scale power off-taker project.
“It is the long-term PPAs we sign, like the one we signed with NOA here, that bring these projects to life.
“We are grateful for the opportunity to serve NOA, so that they in turn can do so for their growing list of energy clients, while driving sustainable development and job creation, locally on-site and where renewable energy is used.”
ACED will continue to provide construction management services, while EIMS Africa will act as the project operations phase management services provider.
ACED and EIMS Africa teams have achieved financial close and construction of over 600 MW of hydro, wind and solar projects in the past 24 months.
