Werksmans acted as Sponsor counsel for the project consortium consisting of African Infrastructure Investment Managers, through its renewable energy project development and delivery platform, African Clean Energy Developments (ACED), EIMS Africa, and Reatile Renewables in the successful financial close of the 140MW Ishwati Emoyeni Wind Farm Project, with a total project cost of approximately ZAR4.9 billion.

A key aspect of this project is the generator power purchase agreement concluded with NOA, making it the first large-scale renewable energy project in South Africa to reach financial close with an energy trader as the offtaker. NOA received its trading licence from NERSA on 31 January 2025, allowing it to purchase the renewable energy generated by the Ishwati Emoyeni Wind Farm and distribute it to the end customers in its portfolio.

This ZAR4.9 billion project will feature 32 Vestas 4.5MW wind turbines and is expected to start generating electricity in 2026. It is located near Murraysburg in the Western Cape and is adjacent to its sister projects, being two wind farms of the same size named Umsinde Emoyeni Wind Farm and Khangela Emoyeni Wind Farm. Werksmans acted as Sponsor counsel for both sister projects as well, which projects achieved financial close in May 2024.

The team comprised, Head of Infrastructure & Energy – Chris Moraitis, Directors – Astrid Berman and Jonathan Behr, Head of Real Estate – Johan Lubbe, Senior Associate – Kristen Elliott, Associate – Zoë Austen, and Candidate Attorney – Mishka Ramraj.

Werksmans negotiated a pioneering generator power purchase agreement. This agreement regulated, amongst other things, the trader's portfolio so as to ensure compliance with specific milestones and requirements to the satisfaction of both the lenders and the seller. Werksmans' legal team is proud to have played a pivotal role as Sponsor counsel in this historic win for green energy in South Africa. We are thrilled to have provided the necessary strategic advice to the Sponsors on this innovative project structure, contributing to the project's successful close.