Page 10 - Energize March 2021
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        Red Rocket’s first hydro-electric power project achieves

        commercial operations

             he Kruisvallei hydropower plant, a project of Red Rocket, reached commercial operations   times and a demonstration of the role, and
             on 25 February 2021. The completion of this plant comes almost two years since   potential, for renewable energy projects in
        Tconstruction began on 26 March 2019.                                     South Africa.”
           Kruisvallei Hydro, as the project will be known, is the third hydropower project, procured   H1 Holdings, which participates as a
        under South Africa’s Renewable Energy Independent Power Producer’s Procurement Programme   46,5% shareholder via the project company,
        (REIPPPP) to come online. The project was awarded Preferred Bidder Status under Bid Window 4   Zevobuzz, also sees a growth in its portfolio
        of the REIPPPP.                                                           through the completion of this project,
           Kruisvallei Hydro which is situated along the Ash River between Clarens and Bethlehem in the   making the project an authentic vehicle
        Free State Province is a one of a kind design for South Africa. Uniquely, the plant is split into two   for empowerment through the power
        run-of-river hydropower plants that combine to supply 4MW of hydro-electric power through two   sector in South Africa. Reyburn Hendricks
        turbines that will generate around 24 GWh per annum providing power for some 1916 households.   of H1 explained that the project assists in
           The Ash River flows vary from approximately 15 to 40 m3 depending on the release schedule   achieving its objective of improving the
        from the Lesotho Highlands Scheme. It is estimated that approximately 1-billion m3 of water will   lives of people using the power sector as an
        flow through each turbine each year. Achieving commercial operations on this project also marks   access point.
        a significant milestone for Red Rocket EPC that constructed the 4 MW hydropower project and the   Says Hendricks: “We’re excited to
        facility will be managed, operated, and maintained by Red Rocket asset management and O&M   participate in this joint venture, where we
        companies, respectively.                                                  will see South Africans receive meaningful
           This is the first project within its greater portfolio which was undertaken using the company’s   improvements to their lives from ownership
        fully integrated business model. Red Rocket will therefore have been responsible for and will   through to economic, social and development
        participate in the full lifecycle of the project from development, design and construction to   initiatives that we will undertake over the
        operation and maintenance.                                                next two decades.”
           Matteo Brambilla, CEO of Red Rocket says: “Building and operating a project of this nature   The Kruisvallei Hydro has committed
        closes the first of many circles for us as a fully-integrated IPP and we celebrate the completion of   a percentage of its annual revenues to
        Kruisvallei, as an example of our capabilities and what we can bring to the market in the future.”   initiatives in education, housing and
           The project was developed, bid under the REIPPPP Round 4, sponsored, built, and will be   sustainable enterprise development
        operated and managed by Red Rocket. Facility for Investments in Renewable Small Transactions   initiatives, in areas surrounding, for the life
        (FIRST), a specialised debt fund established to provide simple, accessible, and efficient funding for   cycle of the project.    n
        renewable energy projects in South Africa, provided funding of approximately R235-million to the
        project whose total project investment is approximately R370-million.     Contact Leole-Ann Francis,
           Greg Ansermino, Principal Fund Manager of FIRST stated that: “The Kruisvallei project is a   Red Rocket Energy, Tel 021 418 3940,
        testament to the Red Rocket team who managed to deliver a successful project during uncertain

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