South Africa has released the result of the fifth round of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP) renewable auction, which aimed to procure 2,600 MW of capacity, including 1,600 MW of onshore wind and 1,000 MW of solar photovoltaic. The programme was almost four times oversubscribed, attracting 102 bids totalling 9,644 MW. The country selected 25 preferred bidder projects totalling 2,583 MW at an average price of ZAR473/MWh (US$31.1/MWh), with ZAR495/MWh (US$32.5/MWh) for onshore wind and ZAR429/MWh (US$28.2/MWh) for solar photovoltaic.
Mainstream Renewable Power-led consortium won 50% of the total allocation with 12 wind and solar projects totalling 1.27 GW. The projects will produce 4.5 TWh/year of electricity once fully operational. Mainstream owns 100% of the projects awarded. At financial close, ownership will transfer to the equity consortium: Mainstream (25%), Globeleq (26%), Africa Rainbow Energy & Power (23.25%), H1 Holdings (23.25%) and Community Trusts (2.5%). In addition, Scatec was awarded Preferred Bidder status on three solar projects totalling 273 MW.
The country targets the addition of 16 GW of wind and solar by 2030 in relation to 2018, made up of 9.5 GW of wind and 6.5 GW of solar. Wind should account for 15.7% of installed capacity in 2030 and solar for 10.5%.
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