April 2018 – 147MW Roggeveld Wind Project Reaches Financial Close
H1 Holdings is a 23.25% shareholder in the 147MW Roggeveld Wind Power project, together with our partners Building Energy, the PIC and the project’s community trust.
This project was awarded preferred bidder status in April 2015. The Power Purchase Agreement and related contracts were signed on the 4th April 2018, and financial close was reached later in the month. The achievement of financial close means that the construction phase has begun. The Roggeveld Wind Project is in the Laingsburg area, straddling the provincial border of the Northern and Western Cape. This is a large project with expected capital expenditure in excess of R3 billion.
When the project is completed in 2021, it will generate approximately 613 GWh of electricity per year. This meets the energy needs of roughly 49 200 South African households every year while offsetting the emission of about 502 900 tonnes of carbon annually. In addition to providing cleaner energy, this project will have a positive economic impact, in terms of a lower electricity tariff relative to Eskom’s generation cost as well as on job creation. 5300 new jobs will be created and a further 7920 long-term jobs will be created. We are proud to be long term partners in this project and look forward to the next phase of this project.
The photo was taken at the signing ceremony on the 4th April 2018 and features H1 Holdings directors, Reyburn Hendricks and Lionel Jacobs, along with Jeff Radebe (Minister of Energy) and members of the IPP office.