3E is proud to serve as Lender Technical Advisor for five South African wind projects: Msenge Emoyeni, Umsinde Emoyeni,Khangela Emoyeni, Ishwati Emoyeni and Castle wind farms.
Led by a consortium consisting of African Clean Energy Developments (ACED), African Infrastructure Investment Managers (AIIM), EIMS Africa and Reatile Group, these projects represent a pivotal step towards South Africa’s clean energy transition. Debt funding was provided by Rand Merchant Bank for the Msenge, Castle, Umsinde Emoyeni and Khangela Emoyeni wind farms, while Standard Bank provided debt funding for Ishwati Emoyeni wind farm.
With over 25 years of delivering technical and strategic advisory services, 3E has built a strong reputation in the renewable energy sector. This extensive experience enables us to offer stakeholders reliable advice, helping them make informed decisions and ensuring the successful delivery of renewable energy projects.
Overview of the wind farm projects
Msenge Emoyeni wind farm
Located in the Eastern Cape Province, the 69 MW Msenge Emoyeni Wind Farm features 16 turbines and stands as South Africa’s first private off-take wind energy facility. It is one of the fastest-constructed renewable energy projects in the country and is already supplying clean energy to Sasol through the national grid under a long-term PPA.
Umsinde, Khangela and Ishwati Emoyeni wind farms
The Umsinde, Khangela and Ishwati Emoyeni wind farms (each 144 MW), located near the border of the Western Cape and Northern Cape provinces, have reached financial close and are currently under construction. The three projects are scheduled to achieve commercial operation in Q4 2026. Umsinde and Khangela will supply renewable energy through wheeling agreements to Sibanye-Stillwater and Rio Tinto’s Richard’s Bay Minerals respectively. Ishwati will sell renewable energy to the renewable energy aggregator, NOA Group Trading, which will in turn supply it to its customers. Initially developed by Windlab South Africa (now Seriti Green), ACED facilitated the acquisition of the projects, led them to financial close, and is currently managing their construction.
Castle wind warm
The 89 MW Castle wind farm, located in the Northern Cape, features 16 turbines. It will deliver clean energy under a long-term PPA and wheeling agreement to Sibanye-Stillwater’s mining operations. Construction is at an advanced stage, with Commercial Operation expected to commence imminently. ACED facilitated the acquisition of this project from JUWI and managed its late-stage development, procurement, financial close and construction.
3E’s role as Lender Technical Advisor
As Lender Technical Advisor (LTA), 3E played a crucial role throughout the lifecycle of these projects, from pre-financial close through construction and into operation. Our involvement was structured across three key phases, ensuring that all technical, environmental and financial aspects aligned with the expectations of lenders.
1) Technical Due Diligence: assessing risks for a sound investment
3E conducted extensive due diligence and technical assessments, covering site suitability evaluations and compliance with local and international environmental regulations. Additionally, we reviewed the technology, project design, and key contracts to ensure alignment with financial goals, supporting the project's feasibility and anticipated energy output.
2) Construction Management & Monitoring: tracking progress & ensuring compliance with industry standards
As the projects transitioned into the construction phase, 3E maintained close oversight to ensure adherence to technical, financial and safety standards. 3E provided monthly reports that tracked construction progress and financial oversight, including reviewing progress claims to ensure alignment with actual milestones. Through quarterly site visits, our team verified on-site progress and confirmed compliance with technical specifications. As completion approached, we monitored the commissioning and testing of the turbines, ensured performance standards were met, issued LTA certificates, and facilitated the transition from construction to operation by ensuring all completion documents were in place.
3) Performance Analysis: driving long-term success
3E continues to provide essential advisory services to ensure the wind farms meet their long-term performance targets. We review operations and maintenance activities and budgets to ensure that cost-effective strategies are in place and aligned with the project goals. This ongoing involvement allows us to support the projects in maintaining optimal performance and financial viability during the debt tenor of the projects.
How 3E assisted in achieving Financial Close
Finalising the major agreements, including the Turbine Supply Agreement (TSA), Balance of Plant (BOP) and Power Purchase Agreement (PPA), proved to be one of the most significant challenges of these projects due to the fixed deadlines and complex nature of the deal. This situation demanded a high level of availability, resilience and flexibility from our team.
Emmanuel Namanya, Operational Lead for 3E Advisory Services in Africa, explains:
”Supporting the lenders and addressing potential risks promptly required us to remain highly responsive and adaptable across various scenarios. This level of commitment is part of the demands of serving as a Lender’s Technical Advisor in high-stakes renewable energy projects”.
Our team maintained constant and effective communication with all parties, facilitating efficient resolution of issues as they arose.
Sam Cook, ACED’s project manager for the Umsinde, Khangela and Ishwati Emoyeni wind farms:
“3E was responsive in supporting the project lenders and ACED as we progressed the projects through demanding financial close processes and into construction.”
David Jones, Infrastructure Sector Solutions Transactor, at Rand Merchant Bank:
“3E was knowledgeable and attentive across the various projects, each of which had unique technical challenges. With 3E’s engagement, we were able to bring each project to financial close in a timely manner.“
Pius Alweendo, Vice President, Energy & Infrastructure Finance – Investment Banking, at Standard Bank:
“It was a pleasure working with 3E on the Ishwati Emoyeni Wind Project. The 3E team was flexible and always available to attend to lenders’ queries, which enabled us to reach financial close on time.“
Advancing renewable energy in South Africa
With continued investments in wind and solar energy, the potential for sustainable development continues to grow. We look forward to continuing our role as a trusted advisor, ensuring the successful completion of these projects and fostering future renewable energy developments and Africa and beyond.
Explore more of our work, including project references and client testimonials, on our resource page. Or request our capability statement via this contact form, for a comprehensive overview of our past projects.
