South African exec Mike Teke’s Seriti Resources to begin 155-MW wind farm construction

Seriti Resources Holdings, a leading coal company led by South African business executive Mike Teke, has announced its ambitious plan to construct a state-of-the-art 155-megawatt wind farm in the eastern province of Mpumalanga, a region bordering Swaziland and Mozambique.

The project is scheduled to be completed within the next two years, reflecting the company’s commitment to clean energy solutions.

The wind farm, which is part of a 900-MW renewable energy cluster planned for the country’s coal heartland, will be built by Seriti’s renewable energy subsidiary, Seriti Green, and will supply 155 MW of wind power to the group’s coal mining operations.

Teke, CEO of Seriti Resources and a leading South African executive, stated that the 155 MW wind farm, which is expected to cost R4 billion ($235 million) and feed power into the national grid by 2025, is the company’s first step toward becoming a diversified energy producer.

“We felt that it’s important that we take our responsibility and consider investing in renewable energy because we believe climate change is a reality, we believe carbon neutrality is important, and we have to make sure that we participate,” Teke added.

Seriti Green CEO Peter Venn announced that the 155-MW wind farm has the capacity to fulfill a significant portion of Seriti Resources’ energy demands, specifically 75 percent of the energy needs for their coal mining operations.

With an annual production of 50 million metric tonnes of thermal coal, Seriti Resources has made a proactive move into the renewable energy sector in response to the global movement towards reducing dependence on fossil fuels and promoting cleaner, more sustainable energy sources.

In December 2022, Seriti successfully acquired a 100-percent stake in Windlab South Africa, solidifying its position as a leader in renewable energy.

The strategic move provides Seriti Green with access to 4,000 MW of renewable energy projects, bolstering its expansion and energy transition plans.

Feyisayo Ajayi
Feyisayo Ajayi
Feyisayo Ajayi is a financial reporter for Billionaires.Africa. He covers topics ranging from company valuations to educational technology. Feyisayo holds a degree in geology from the acclaimed University of Ibadan.

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