Four of the 27 projects which have signed power purchase agreements with Eskom, have reached financial close.The four projects, which fall under South Africa’s Renewable Energy Independent Power Producer Procurement Programme, (REIPPPP), are being backed by Standard Bank and represent a combined investment of R6.6 billion in South Africa’s renewables sector. The bank is the mandated lead arranger, underwriter and hedge provider of seven of the total 27 projects which have signed power purchase agreements with Eskom. The remaining projects have until end July to reach financial close. Collectively, the four projects already closed, being the Sirius, Dyasons Klip 1 and Dyasons Klip 2 solar projects in the Northern Cape and the Wesley-Ciskei wind project in the former Ciskei region of the Eastern Cape Province, will add 258 megawatts of renewable energy to South Africa’s national grid. The three Northern Cape solar projects, being constructed by Norway’s Scatec Solar ASA were among the first projects to reach financial close in the current round of the REIPPPP process. Once commissioned Scatec will have a portfolio of 6 projects Solar projects in South Africa.