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GDF Suez SA Announces Financial Close of a 94 MW Wind Farm

Monday, 10 Jun 2013 08:00pm EDT 

GDF Suez SA announced that the Company, together with its partners Investec and Kagiso Tiso Holdings, has reached financial close on the 94 MW West Coast One wind project, which is located 130 kilometers north of Cape Town in the Republic of South Africa (RSA). GDF Suez SA holds a 43% equity interest in the project, while Investec owns 34.5%, Kagiso Tiso Holdings has a 20% interest. The remaining 2.5% will be allocated to a Community Trust. The consortium was selected as preferred bidder for this project in May 2012 and signed a 20-year Power Purchase Agreement (PPA) with Eskom Holdings, the Republic’s state-owned utility, in May 2013. The West Coast One wind farm is expected to reach commercial operation in mid 2015. The total investment cost is EUR 160 million funded by a mix of equity and debt, which is provided by local banks. 

Company Quote

-0.345 -1.69%
9:27am EDT