Italian utility Enel Green Power has received a 2.1 billion rand loan toward developing a wind farm in the Eastern Cape province of South Africa. The 111-megawatt wind farm to come up in Gibson Bay will comprise 37 turbines of 3 megawatts each, the company has stated.
The lender, KfW IPEX Bank GmbH, is the export finance unit of Germany’s state-owned development lender KfW.
Enel has also stated that it has launched an academy to train South Africans to install and sell small solar-power uints such as those for installation on rooftops. By June, the academy could train at least 1,000 South Africans, Enel has stated.
Enel had recently announced its plan to invest about 18 billion euros in renewable energy and smart grid markets over the coming five years.
Of the sum the company will be investing roughly 5.4 billion euros in emerging markets, digital meters and smart grids across the world.
The company plans to expand its capacity in Latin America, North America and Africa by 50 percent to 7.1GW.
Further, the company plans to launch new product and services to push its retail growth.
Recently, Enel Green Power commissioned its 102 MW Sureste I-Phase II wind farm in Oaxaca, Southern Mexico. The company has also installed 34 turbines of 3 MW each to produce 390 GWh a year.
Besides developing new assets Enel also has plans to sell 5 billion euros worth of assets over the next five years.
It was in talks to sell 66 percent stake in Slovak power generator Slovenske Elektrarne, besides selling its renewable energy assets in the US.
Ajith Kumar S