South African renewables developer and aggregator, NOA Group, has reached financial close on its first wholly owned large-scale wind project, the 94.5 MW Wind Garden near Makhanda in the Eastern Cape. The deal, funded by Standard Bank, marks the second NOA development financed by the bank, following the recent R4.9 billion, 140 MW Ishwati Emoyeni Wind Farm.
Construction for the wind project is expected to begin in early 2025. A formal ground-breaking ceremony on 7 May 2025 brought together key partners and stakeholders to celebrate this milestone, paving the way for the wind farm to contribute to South Africa’s renewable energy capacity.
“This milestone underscores both our commitment to NOA and our shared commitment to advancing South Africa’s energy transition.” said Nicholas Knott-Craig, Executive: Energy and Infrastructure Finance at Standard Bank.
“We are immensely proud to have partnered with NOA. This successful transaction demonstrates Standard Bank’s leadership in the renewable energy and aggregator space, and our unwavering commitment to supporting our clients.” said Vincenzia Leitch, Executive: Energy and Infrastructure Client Coverage at Standard Bank..
Wind farm to boost NOA’s portfolio
Once operational, Wind Garden is expected to generate 287 GWh of clean energy annually, displacing over 304,000 tonnes of CO₂ emissions per year. The facility will feature 21 Vestas V150-4.5 MW turbines, each standing 112 metres tall with 75-metre blades, significantly boosting South Africa’s renewable energy capacity.
“Wind Garden marks a major step in NOA Group’s expansion of its national footprint, designed to build a robust portfolio of renewable energy generation assets. Achieving these goals relies on strong financial partnerships, which are essential to unlocking private investment that supports both economic recovery and South Africa’s decarbonisation ambitions,” said Karel Cornelissen, CEO of NOA Group.
The announcement comes as South Africa’s renewable energy market enters a phase of exponential growth. According to GreenCape’s Large Scale Renewable Energy Market Intelligence Report 2025, with 15 GW of renewable energy projects connected or under construction in 2024, the market is projected to more than double by 2030, reaching 32 GW—driven largely by private sector demand and corporate sustainability goals.
“Wind Garden is not only our first wholly owned project to reach financial close and enter construction, but it also underscores NOA’s role in a decentralised, private energy market—delivering cost-effective and sustainable power to commercial and industrial customers. This comes at a time when South Africa is shifting away from public procurement as the primary driver of large-scale renewable energy, with private off-taker agreements and independent power producers increasingly taking the lead,” added Cornelissen.
