H1 Holdings is a 11.25% shareholder in two new utility-scale wind projects – Kangnas Wind and Perdekraal East Wind. Our co-shareholders in these projects are Mainstream Renewable Power, African Rainbow Energy and Power, Lekela and Old Mutual.
These projects were contracted in April 2018 by the Department of Energy under Round 4 of the REIPPP and financial close was achieved in June 2018. The 140MW Kangnas Wind Farm will be built near Springbok in the Northern Cape and the 110MW Perdekraal East Wind Farm will be built near 80km northeast of Ceres in the Western Cape. The total investment value of the two projects total R6.6 billion.
Kangnas Wind Power and Perdekraal East Wind Power will begin construction in 2018 and are set to operate from 2020, bringing significant job creation to the remote areas. In addition, the projects have committed R1.1 billion to community investment over the 20 years of operation. It is expected that these projects will assist in reducing South Africa’s carbon footprint. Kangnas Wind and Perdekraal Wind will have economic benefits as a result of job creation and “value for money” in terms of the cost of the electricity generated by the wind farm.