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Irish-S.Africa joint venture to spend $1.2 bln on wind energy

Ireland-based renewable energy firm Mainstream Renewable Power and a South African wind farm developer will build 500 megawatts of wind energy in South Africa by 2014 at a cost of 850 million euro.
The joint venture deal with South Africa's Genesis Eco-Energy, plans to have two projects, with a combined capacity of 70MW, ready for construction early next year, Mainstream said in a statement on Thursday.

The 30MW Jeffrey's Bay wind farm, near Port Elizabeth and a 40MW project at Colesberg were at advanced stages and expected to be fully operational early in 2011, Mainstream said.

South Africa faces power shortages due to the lack of investment in generating capacity, constraining economic growth in the continent's biggest economy.

There is less than 10MW of wind energy in operation in South Africa, but with the existing wind resource there is potential for more, analysts have said.

Additional information:
News date: 20/03/2009

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Comments and remarks to Wim Jonker Klunne

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