Renewable energy independent power producer, Red Rocket, has reached financial close on the first phase of the 380MW Overberg Wind Farm. The project is poised to be South Africa’s largest wind energy power plant once completed.
The Overberg Wind Farm will be developed in two phases. Richards Bay Minerals (RBM), a subsidiary of the Rio Tinto Group, has secured the initial 230MW of the project’s total 380MW export capacity. This agreement is expected to provide RBM with approximately 750GWh of clean energy each year, substantially lowering its carbon emissions and strengthening its dedication to sustainable practices.
Located near Swellendam in the Western Cape, Overberg Wind Farm will operate under a 20-year Power Purchase Agreement (PPA). The project is expected to cut RBM’s annual greenhouse gas (GHG) emissions by approximately 30%, equivalent to 0.7 million tonnes of CO₂e.
The project will be funded through a club deal, with participation from Absa Bank’s Corporate and Investment Banking division, Standard Bank’s Corporate and Investment Banking division, and the Development Bank of Southern Africa.
“We are proud to collaborate with Richards Bay Minerals on this landmark project. Overberg Wind Farm is a testament to what is possible when ambitious renewable energy targets meet the expertise and drive to bring them to life. As South Africa’s largest privately developed single wind farm, this project highlights the immense potential of privatesector-led renewable energy development to reshape the country’s energy landscape,” said Matteo Brambilla, CEO of Red Rocket.
Red Rocket highlighted that commercial operations for the Overberg Wind Farm is expected to commence in early 2027.
“This collaboration with Red Rocket on the Overberg Wind Farm aligns with our long-term sustainability goals and demonstrates our commitment to reducing our carbon footprint,” said Werner Duvenhage, the Managing Director for RBM.
“As a major consumer of electricity in our region, we are committed to reducing our reliance on coal fired power while making a tangible contribution to the country’s efforts to support the energy transition. This is our largest PPA to date, and we are excited to be a part of this groundbreaking project and look forward to the positive impact it will have on the environment and the community,” Duvenhage added.
