Mining and energy company Seriti Resources’ subsidiary Seriti Green has signed a long-term project financing agreement with Rand Merchant Bank (RMB) as co-mandated lead arranger to enable the delivery of a 155 MW wind farm, in Mpumalanga.
The project has a total cost of R4-billion and represents the first phase of a portfolio that will amount to about 1 GW of renewable energy. The wind farm will be the first renewable energy project to be developed in Mpumalanga, which is traditionally prominent for coal mining and coal-fired power generation.