LAUNCH OF TSITSIKAMMA COMMUNITY WIND FARM PROJECT

Top: The Ambassador of Denmark, Dan E. Frederiksen and the director of ECCWEDA and CEO of Watt Energy, Mike Msizi signing an agreement.

The Ambassador of Denmark, Dan E. Frederiksen said on the occasion of the launch:

“The Tsitsikamma Wind Farm Project is a very strong South African project that I am proud Denmark is associated with. Vestas produces the wind turbines, DONG buy CDM credits and IFU, EKF and European Energy bring equity and export credits to the project. Our aim is not only to assist Danish companies enter the South African market, but to assist South Africa become greener while producing more electricity and developing a poor community at the same time. I am therefore delighted that there is a strong development component to the project. Watt Energy and Tsitsikamma Development Trust as two of the project owners will bring back a large portion of the investment to the local community, for the community to decide on its own development projects.”

After a hard-won battle to reclaim land with great historical significance, the Tsitsikamma community will benefit as equity partner, to develop the land into a sustainable source of income while providing wind energy to a country that is facing critical energy challenges.

Top: The Chairman of the Tsitsikamma Development Trust, Thobile Mkamba speeks to the audience.

The partners in the Tsitsikamma Community Wind Farm consortium comprise of the following:

·         Watt Energy – South African company and project developer

·         EXXARO – South African company and investor

·         Tsitsikamma Development Trust – South African land owner

·         Vestas – Danish wind turbine producer

·         EKF –  Danish export credit fund

·         IFU – Danish investment foundation

·         DONG – Danish energy company and buyer of CDM credits

·         European Energy – Danish energy IPP and investor