Established in 2000, H1 Holdings is a majority black-owned and managed developer of renewable energy projects. UKCI will provide critical financing for the development of the Kruisvallei Hydro project in the Free State province (4 MW), Kangnas Wind Farm in the Northern Cape province (140 MW) and the Perdekraal East Wind Farm in the Western Cape province (110 MW). The financing will be provided through an innovative funding mechanism developed by UKCI in close consultation with H1 Holdings and designed to support Black Economic Empowerment (BEE) entities.
The projects are expected to be completed by the end of 2020 and provide enough clean electricity to power nearly 200,000 homes each year. During their lifetime, they will help avoid approximately 844,000 tonnes of greenhouse gas emissions per annum.
In addition to promoting cleaner growth, the projects will stimulate rural development by employing and training at least 40 per cent of construction, operations and maintenance staff from local communities.