In what has been touted as the biggest win by a domestic Independent Power Producer (IPP), Red Rocket, lead member of the Red Rocket Consortium has been awarded Preferred Bidder status for three onshore wind projects under the fifth bidding window of South Africa’s Renewable Energy Independent Power Producers’ Programme (REIPPPP). Going up against large multi-nationals, in the incredibly competitive bid round, the fully integrated IPP has set the bar of possibility high for African based players.
On 28 October, the Minister of Mineral Resources and Energy (DMRE), Gwede Mantashe announced 25 Preferred Bidders to procure a total of 2 583MW of renewable energy capacity. The DMRE received 102 bid responses with an oversubscribed capacity of 9 644MW, making this bid window incredibly competitive. With its win of three onshore wind projects, Red Rocket was awarded 364MW of the total 1 608MW of onshore wind capacity procured.
The IPP’s projects awarded preferred bidder are: Brandvalley 140MW, Rietkloof 140MW and Wolf 84MW wind farms. The Brandvalley and Rietkloof projects will be constructed in the Western Cape and Wolf Wind Farm in the Eastern Cape Province of South Africa. These projects will generate approximately 1,500 Gigawatt hours of green electricity per annum, once fully operational.
The projects were bid under a consortium led by Red Rocket that includes, AIIM through its IDEAS Fund, H1 Holdings, Jade-Sky Energy, and local community trusts.
Adding these three projects, while remarkable, also sees the African IPP simultaneously double its African renewable energy portfolio to 750MW of projects in operation, under construction or awarded Preferred Bidder. Says, Matteo Brambilla, CEO of Red Rocket: “Our win is a win for a country, that we call our home. Being awarded these projects delivered by local talent means our strategy of becoming one of Africa’s leading Independent Power Producers is well on track.”