DLA Piper advises on funding for South Africa’s largest wind farm
DLA Piper has advised the mezzanine and subordinated funders, FirstRand Bank (acting through its Rand Merchant Bank Division) and The Standard Bank of South Africa (acting through its Corporate and Investment Banking division), of Seriti Green’s 155MW first phase wind energy facility. The wind energy facility is part of the larger 900MW Ummbila Emoyeni renewable energy cluster, which will consist of 750MW of wind energy and 150MW of solar energy, located in Mpumalanga, South Africa.
The facility will be one of South Africa’s largest wind farm developed at an estimated cost of ZAR4 billion. The energy it generates is expected to supply 75% of the power requirements of Seriti’s coal mining operations from 2025. Seriti Green, owned by a consortium of shareholders, is driving energy transition through the development, construction, and operation of renewable projects in South Africa and across the African continent.
A team from DLA Piper’s Johannesburg office worked on the transaction and was led by Amelia Heeger, legal director in the International Finance practice. She was supported by Malachizodok Mpolokeng, associate, and Manyaku Thulare, associate designate.
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