To profit with purpose

The overarching mission is to profit with purpose by providing a specialised and experienced financing platform that will structure select investments to accelerate clean and sustainable energy infrastructure, energy and resource efficiency solutions (and related business models and services), and the supply chains that support them, which provide measured positive development outcomes for sub-Saharan Africa’s future.

Kouga Wind Farm

Kouga Wind Farm is a bespoke onshore wind renewable energy generation project in South Africa. Kouga Wind Farm was co-developed by Evolution One Fund as a value added financing partner to provide both project development capital to develop the pre-permitted wind asset to permitted status and project equity finance to construct, commission and operate the wind asset at project financial close. Kouga Wind Farm operates in the Kouga region of the Eastern Cape.

Construction commenced in 2013 on the 80MW project and Kouga Wind Farm reached commercial operations date on 17 March 2015 and is in full operations phase. The project will generate an average net revenue of approx. R250m over the 20-year project to BBBEE social needs, creating approx. 183 temporary and permanent jobs.

The projects fall under the Department of Energy’s IPP Procurement Programme in South Africa. A local BBBEE shareholder holds 26% equity in the Red Cap Kouga Wind Farm project. Nordex (one of Germany’s largest wind turbine manufacturers) provides the engineering, procurement and construction contract for the project, as well as provides the ongoing operations and maintenance.

Evolution One Fund secured seed capital from the United Nations Environment Programme as co-investment to assist with early stage risk capital for the development of the pre-permitted wind assets.

"Redcap is an exciting new addition to our investment portfolio. They are a successful and rapidly expanding player in the African renewable energy landscape."

Fund Principals

Christopher Clarke

Fund:

Evolution I

Enterprise Value:

ZAR1.885 billion

Investment Amount:

ZAR100.947 million

Date of Deal Annoucement:

2010

Investment Year:

2012

Investment Partner:

Red Cap Kouga Wind Development Company

"Redcap is an exciting new addition to our investment portfolio. They are a successful and rapidly expanding player in the African renewable energy landscape."

Fund Principals

Christopher Clarke

Fund:

Evolution I

Enterprise Value:

ZAR1.885 billion

Investment Amount:

ZAR100.947 million

Date of Deal Annoucement:

2010

Investment Year:

2012

Investment Partner:

Red Cap Kouga Wind Development Company

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