Landmark wind-hydro-solar PPA deal

News

28 June 2024 News

Growthpoint Properties recently signed a Power Purchase Agreement (PPA) with licensed electricity trader Etana Energy to wheel electricity to its commercial property buildings in several jurisdictions across the country. This deal will see Etana providing 195 GWh of renewable energy a year, representing 32% of Growthpoint’s total current annual electricity consumption (612 GWh in 2023).

The deal has set in motion the country’s first multi-jurisdiction, multi-building, multi-source renewable energy wheeling arrangement, and will enable Growthpoint’s tenants to access green energy and reduce their carbon footprint. Through this agreement, Etana will cover 70% of the power consumed by Growthpoint’s participating buildings, and in some buildings, Growthpoint will even be able to provide its tenants with the ability to purchase 100% renewable energy and actively drive carbon reduction.

As a result of the agreement with Etana Energy, Growthpoint has exclusive rights to purchase all of the roughly 30 GWh that will be generated annually by a 5 MW hydroelectric power plant developed, owned and operated by Serengeti Energy. The project is situated on the Ash River within the Lesotho Highlands Water Scheme (LHWS), close to Clarens in the Free State, which provides the added benefit of effectively generating 24/7 baseload power. Growthpoint has also shown some interest in investing in the power plant by signing a Memorandum of Understanding with Serengeti Energy. Serengeti Energy owns and manages renewable energy projects of up to 50 MW in sub-Saharan Africa, and currently operates nine plants in five countries.

The hydroelectric power plant has reached financial close and is currently under construction. The commercial operations date is expected to be 1 July 2025, when it will supply its first electricity to Growthpoint, wheeled via the Eskom grid and traded through Etana.

Thereafter, the commissioning of wind and additional solar production from Etana’s portfolio of renewable energy projects connected to the national electricity grid will commence.

Share this article:

SAPVIA hails R2bn credit guarantee fund for transmission expansion
News
Soon after the mini budget was delivered in parliament, the South African Photovoltaic Industry Association (SAPVIA) congratulated Finance Minister, Enoch Godongwana, for the announcement of a R2 billion Credit Guarantee Vehicle.

Read more...

Automotive Ethernet communications
EBV Electrolink News
EBV Elektronik has expanded its automotive solutions offering with Infineon’s Marvell Automotive Ethernet portfolio.

Read more...

Tronics Microsystems begins machine and asset health monitoring
News
Tronics Microsystems, a subsidiary of TDK, has announced its expansion into vibration sensor solutions, targeting process and asset monitoring to support predictive maintenance and industrial IoT applications.

Read more...

Electronic News Digest
News
A brief synopsis of current global news relating to the electronic engineering fields with regards to company finances, general company news, and engineering technologies.

Read more...

4000 A containerised DB for power project
News
Power Process Systems has successfully completed the design, fabrication, and commissioning of a 4000 A containerised distribution board for a wind/PV solar hybrid renewable energy project.

Read more...

Datacentrix Industrial Indaba 2025
News
Datacentrix recently hosted its inaugural Industrial Indaba 2025, where industry leaders explored how digitalisation, resilience, security and compliance are shaping the future of sustainable industrial operations in Africa.

Read more...

Categories

News

Landmark wind-hydro-solar PPA deal

Further reading:

Publications by Technews