UK developer Renewable Energy Systems (RES) has bought a portfolio of projects with a total capacity of nearly 300MW from local developer South African Renewable Green Energy (Sarge) for an undisclosed sum. The projects, located in the wind-rich Eastern Cape and Western Cape provinces, are at an early stage of development. "We expect the South African renewable energy market to be a very challenging environment for developers, but we are fully committed to developing these projects and building a substantial portfolio in the region," says Thomas Riboud, director of RES' new southern Africa subsidiary. Sarge was set up two years ago to develop renewable energy projects, initially for sale but ultimately to become an owner of generating capacity.
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