As South Africa accelerates its transition to renewable energy – with an investment pipeline estimated at some R150 billion across solar PV and wind projects by 2030 – NOA Group has announced financial close on its first wholly owned large-scale wind energy project, the 94.5 MW Wind Garden, located near Makhanda in the Eastern Cape.
Partners and stakeholders marked the start of construction with a formal ground-breaking ceremony on 7 May 2025.
This project is the second NOA development to be financed by Standard Bank, following the recent financial close of the 140 MW, R4.9 billion Ishwati Emoyeni Wind Farm.
"This milestone underscores our commitment to NOA and our shared commitment to advancing South Africa’s energy transition." said Nicholas Knott-Craig, Executive: Energy and Infrastructure Finance at Standard Bank.
Vincenzia Leitch, Executive: Energy and Infrastructure Client Coverage at Standard Bank, said: “We are proud to have partnered with NOA. This successful transaction is an example of Standard Bank’s leadership in the renewable energy and aggregator space, and its commitment to supporting its clients.”
The project officially reached financial close and the start of construction in early 2025. A formal ground-breaking ceremony held in early May 2025 brought together key partners and stakeholders to mark this significant milestone.
“Wind Garden is a major step in NOA Group’s expansion of its national footprint, as it aims to build a robust portfolio of renewable energy generation assets. Achieving these goals relies on strong financial partnerships, which are essential to unlocking private investment that supports South Africa’s economic recovery and the country’s decarbonisation ambitions,” said Karel Cornelissen, CEO of NOA Group.
The facility will produce an estimated 287 GWh of clean power annually, offsetting over 304 000 tonnes of CO₂ each year. The project comprises 21 Vestas turbines, each with a capacity of 4.5 MW and standing 112 metres tall, with 75-metre blades.
The announcement comes as South Africa’s renewable energy market enters a phase of exponential growth. According to GreenCape’s Large Scale Renewable Energy Market Intelligence Report 2025, with 15 GW of renewable energy projects connected or under construction in 2024, the market is projected to more than double by 2030, reaching 32 GW, driven largely by private sector demand and corporate sustainability goals.
“As well as being our first wholly owned project to reach financial close and enter construction, Wind Garden also underscores NOA’s role in a decentralised, private energy market – delivering cost-effective and sustainable power to commercial and industrial customers. This comes at a time when South Africa is shifting away from public procurement as the primary driver of large-scale renewable energy, with private off-taker agreements and independent power producers increasingly taking the lead,” Cornelissen added.
As an Integrated energy company, NOA Group develops, builds and operates large-scale wind, solar, and energy storage facilities. Through its wheeled energy solutions, NOA enables customers in the commercial and industrial sectors to meet net-zero targets and reduce their energy costs. The company aggregates energy from a growing fleet of renewable generation assets and supplies it to a diverse customer base, offering tailored solutions on tariffs, contract duration, and security commitments.
For more information visit: https://noagroup.africa/
