RED Rocket, a leading renewable energy independent power producer, has reached financial close on the first phase of the Overberg Wind Farm, marking a major milestone in South Africa’s clean energy transition.
This means it has secured all the necessary funding and completed all financial agreements required to proceed with the construction and development of the Overberg Wind Farm.
Adding to Red Rocket’s portfolio of wind farms, Overberg Wind Farm will be the latest in a series of groundbreaking renewable energy projects, reinforcing Red Rocket’s position as a leader in the country’s renewable energy sector.
Overberg Wind Farm will be developed in two phases, with Richards Bay Minerals (RBM), a subsidiary of Rio Tinto Group, securing the first 230MW of the total 380MW export capacity. This will deliver an estimated 750GWh of clean energy annually to RBM, significantly reducing its carbon footprint and reinforcing its commitment to sustainability.
Once fully operational, Overberg Wind Farm will be South Africa’s largest privately developed single wind farm, significantly contributing to the country’s energy security.
Located near Swellendam in the Western Cape, Overberg Wind Farm will operate under a 20-year Power Purchase Agreement (PPA), further demonstrating Red Rocket’s commitment to delivering high-impact renewable energy solutions at scale.
Matteo Brambilla, CEO of Red Rocket, welcomed the partnership with Rio Tinto, stating: “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.”
