Mainstream Renewable Power’s Financing of two wind projects in the Northern Cape and Western Cape provinces in South Africa


White & Case LLP has advised Absa Bank Limited (acting through its Corporate and Investment Banking Division), as exclusive mandated lead arranger, sole underwriter and sole hedge provider, on the R6.6 billion financing for Mainstream Renewable Power’s two wind projects in the Northern Cape and Western Cape provinces in South Africa.

The projects, Kangnas and Perdekraal East, were awarded under Round 4 of the South African Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme, and will generate a combined 250 MW once completed. Construction is expected to commence in June 2018 and the projects should be operational by 2020.

Equity investors included Lekela Power, OMLACSA, AREP, H1 and a community trust. Financial close was reached on June 5, 2018 with an approximate total amount invested of R6.6 billion.

The White & Case team in Johannesburg which advised on the transaction was led by partner Craig Whitley (Picture) and included partner Quintin du Plessis, local partner Nathisha Maharaj and associates Matthew Richards, Marianna Naicker and Rosanna Bibis.

Involved fees earner: Craig Whitley – White & Case; Quintin du Plessis – White & Case; Nathisha Maharaj – White & Case; Matthew Richards – White & Case; Marianna Naicker – White & Case; Rosanna Bibis – White & Case;

Law Firms: White & Case;

Clients: Absa Bank Limited;