Eaglestone Advises Red Rocket South Africa on First Phase of the Overberg Wind Farm Project

Eaglestone is pleased to announce that it has acted as financial advisor to Red Rocket South Africa (Pty) Ltd as the IPP on the First Phase of the Overberg Wind Farm project, which successfully achieved Financial Close today.

The project is secured with a 20-year private PPA (including the appropriate wheeling arrangements) with the South African mining company, Richards Bay Minerals (a subsidiary of Rio Tinto) (“RBM”), a world leader in heavy mineral sands extraction and refining as well as titanium mining.

The project is located near Swellendam in the Western Cape with a Nameplate Capacity of 242MWDC and a total project cost of R8.8 billion. This project was developed in two phases with RBM securing 230 MW of the total 380MW export capacity.