Gestamp Wind signs PPA for 75 wind MW in South Africa
(Madrid, November 8th 2012) Gestamp Wind, the wind energy division of Gestamp Renewables, has signed a power purchase agreement (PPA) for 75 wind MW in South Africa.
The project has been selected as “Preferred Bidder” in December 2011 under the REIPP, promoted by the South African Energy Department.
Nobelsfontaine wind farm, developed by Gestamp Wind as main shareholder along with local partners, is located in Northern Cape, and will involve an investment of € 120 million. It is expected to in operation by 2013.
With this PPA, Gestamp Wind reinforces its investment in wind energy development in the main wind energy international markets. Over 70% of € 70 million 2012 budget will come from overseas markets, a percentage expected to increase up to 90% by 2013.
Dionisio Fernández Auray, CEO of Gestamp Wind, stated: “With this new PPA we reinforce our internationalization project”.