Alexandra Clüver
Partner | Cape Town
Contact
T: +27 21 480 7856
Overview
Alexandra guides local and international clients through the complexities of project development and financing. She specialises in the energy, infrastructure, and oil and gas sectors within South Africa and the broader Sub-Saharan region.
Her expertise includes structuring equity and debt funding arrangements such as limited recourse financing, portfolio financing, and project financing. Additionally, she excels in private equity and secondary market transactions.
With over a decade in the industry, her expertise extends to development and finance of projects across all sectors, including energy transition. Alexandra is currently advising numerous IPPs and financiers in the captive power sector as well as in respect of government procured programmes.
She spent 12 years with a top-tier South African firm as well as having worked for global law firms in their London, Berlin, Bangkok and Singapore offices and is an English qualified lawyer.
Experience
Jurisdictions worked in: Germany, Indonesia, South Africa, Thailand, United Kingdom
Languages fluent in: English
Alexandra has advised:
* experience gained prior to joining Bowmans
- An international development finance institution with the development of template reimbursable grant funding agreements for the development financing of hydro power projects across multiple jurisdictions in Africa.*
- Envusa Energy, a joint venture between Anglo American and EDF Renewables (South Africa) on the financing of 520MWs of renewable energy through combined solar and wind power projects.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) as lead arranger and original lender on the 240MW Virginia Solar PV transaction, a preferred bidder in Round 6 of South Africa’s REIPPPP programme.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) and Absa Bank Limited in respect of the 97.5MW solar PV project developed by Mainstream for the Sasol SA Limited and Air Liquide private procurement.*
- Enel Green Power on their development of the 330MWs of wind energy for Sasol and Air Liquide. This project is one of the largest wind powered wheeling facilities in Africa.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) on the 89MW Castle wind farm, this was the first private power deal to reach financial close for Sibanye-Stillwater, delivering power to its mining operations.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) and the Development Bank of Southern Africa on the 108MW wind project developed by Red Rocket for Sibanye’s private procurement.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) on the financing of the design, construction and operation of the 69MW Msenge onshore wind farm located in the Eastern Cape. The first captive wind project to reach financial close in South Africa.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) as lead arranger on the 128MW Oya Energy Hybrid Project, a combination of solar, wind and battery technologies.*
- The Buffels Solar Project on a 60MW wheeling project for Sasol.*
- Sponsors counsel on 342MW Captive Projects for Sasol/Air Liquide.*
- The Lenders on the financing of a 67MW wind facility which will supply electricity to Sasol South Africa Limited under a 20-year power purchase agreement.*
- Rand Merchant Bank on the financing of two wind and one solar PV facility which will supply electricity to Sibanye Stillwater under a 15 year power purchase agreement.*
- Actis on the sale of BTE Renewables.*
- RMB as Mandated Lead Arranger on the 128MW Oya Project, a hybrid project consisting of wind, solar, thermal and battery storage facilities and a preferred bidder under the Risk Mitigation IPP Procurement Programme (RMIPPP).*
- REIPPPP: Acted on over 15 separate private sector renewables projects (PV, CSP and Wind) under Rounds 1-4 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) including advising the following:
- Lenders (including AfDB, CDC, DEG, FMO, Investec, RMB and ABSA) on the ACWA developed 100MW Redstone CSP project.*
- The Standard Bank of South Africa Limited on the 27MW Klipheuwel Wind Farm and the Solar Capital De Aar 1 and De Aar 3 Projects.*
- Enel Green Power in relation to the preparation and submission of three solar/wind plus battery storage project bids under the RMIPPPP.*
- Globeleq in relation to the preparation and submission of a bid in respect of a thermal and renewable hybrid project under the RMIPPPP.*
- ALTEN African in relation to the financing of their 37MW solar PV Project in Hardap, Namibia.*
- Actis LLP on the establishment of Lekela, its pan African renewable energy platform with Mainstream, and its acquisition of a majority interest in three projects in Round 3 of the REIPPP Programme.*
- Actis LLP on its acquisition of the Biotherm Energy platform.*
- Lekela Holdings in relation to its acquisition of a majority interest in the Kagnas and Perdekraal East wind projects in Round 4 of the REIPPP programme as well as refinancing of its operational cashflows for purposes of collateralising guarantees to be issued in respect of its Egyptian and Senegal projects.*
- The Standard Bank of Namibia Limited and The Standard Bank of South Africa Limited in relation to the financing of the equity contributed by Zimbabwe Power Company to the expansion of Krabi Dam and the rehabilitation works for Kariba and Hwange Power Stations.*
- Black Rhino Limited and MOGS (Pty) Limited in respect of the development of an SBM refined products, import, storage and petroleum pipeline for delivery of liquid fuels to Ethiopia.*
- Ugandan National Oil Company on the framework agreement for the procurement of joint venture partners for the Uganda Refinery Project.*
- Oiltanking Grindrod Calulo on the development of a bulk liquid storage & handling facility in the Port of Ngqura, Coega, Eastern Cape.*
- Development Bank of South Africa on a multi-currency facility to East African Development Bank to fund infrastructure projects in its member states (English law).*
- Solar Saver SA Proprietary Limited, as borrower, in relation to the financing of a portfolio of C&I rooftop solar PV Systems across various sites.*
- Ithokazi on the establishment of a BEE platform combining BEE shareholdings in 9 REIPPP Projects and the preference share refinancing thereof.*
Awards
- Chambers Global ranked Alexandra in Band 4 for her work in Projects & Energy in South Africa (2025-2026).
- Legal 500 ranked Alexandra as a Leading Partner for her work in Projects and Infrastructure in South Africa (2025-2026).
- Who’s Who Legal: Energy 2023 listed Alexandra as one of the market leading energy lawyers in South Africa.
- IFLR1000 ranked Alexandra as Highly Regarded for her work in South Africa, in 2025
‘Alexandra Cluver is super organised and extremely dependable. She can advise on both a strategic level and then zoom in on the details.’ – Chambers Global, 2026
AREA OF EXPERTISE
Qualifications
Education
- LLB, University College London.
- Legal Practice Course, BPP Law School.
Overview
Alexandra guides local and international clients through the complexities of project development and financing. She specialises in the energy, infrastructure, and oil and gas sectors within South Africa and the broader Sub-Saharan region.
Her expertise includes structuring equity and debt funding arrangements such as limited recourse financing, portfolio financing, and project financing. Additionally, she excels in private equity and secondary market transactions.
With over a decade in the industry, her expertise extends to development and finance of projects across all sectors, including energy transition. Alexandra is currently advising numerous IPPs and financiers in the captive power sector as well as in respect of government procured programmes.
She spent 12 years with a top-tier South African firm as well as having worked for global law firms in their London, Berlin, Bangkok and Singapore offices and is an English qualified lawyer.
Experience
Jurisdictions worked in: Germany, Indonesia, South Africa, Thailand, United Kingdom
Languages fluent in: English
Alexandra has advised:
* experience gained prior to joining Bowmans
- An international development finance institution with the development of template reimbursable grant funding agreements for the development financing of hydro power projects across multiple jurisdictions in Africa.*
- Envusa Energy, a joint venture between Anglo American and EDF Renewables (South Africa) on the financing of 520MWs of renewable energy through combined solar and wind power projects.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) as lead arranger and original lender on the 240MW Virginia Solar PV transaction, a preferred bidder in Round 6 of South Africa’s REIPPPP programme.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) and Absa Bank Limited in respect of the 97.5MW solar PV project developed by Mainstream for the Sasol SA Limited and Air Liquide private procurement.*
- Enel Green Power on their development of the 330MWs of wind energy for Sasol and Air Liquide. This project is one of the largest wind powered wheeling facilities in Africa.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) on the 89MW Castle wind farm, this was the first private power deal to reach financial close for Sibanye-Stillwater, delivering power to its mining operations.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) and the Development Bank of Southern Africa on the 108MW wind project developed by Red Rocket for Sibanye’s private procurement.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) on the financing of the design, construction and operation of the 69MW Msenge onshore wind farm located in the Eastern Cape. The first captive wind project to reach financial close in South Africa.*
- Rand Merchant Bank (a division of FirstRand Bank Limited) as lead arranger on the 128MW Oya Energy Hybrid Project, a combination of solar, wind and battery technologies.*
- The Buffels Solar Project on a 60MW wheeling project for Sasol.*
- Sponsors counsel on 342MW Captive Projects for Sasol/Air Liquide.*
- The Lenders on the financing of a 67MW wind facility which will supply electricity to Sasol South Africa Limited under a 20-year power purchase agreement.*
- Rand Merchant Bank on the financing of two wind and one solar PV facility which will supply electricity to Sibanye Stillwater under a 15 year power purchase agreement.*
- Actis on the sale of BTE Renewables.*
- RMB as Mandated Lead Arranger on the 128MW Oya Project, a hybrid project consisting of wind, solar, thermal and battery storage facilities and a preferred bidder under the Risk Mitigation IPP Procurement Programme (RMIPPP).*
- REIPPPP: Acted on over 15 separate private sector renewables projects (PV, CSP and Wind) under Rounds 1-4 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) including advising the following:
- Lenders (including AfDB, CDC, DEG, FMO, Investec, RMB and ABSA) on the ACWA developed 100MW Redstone CSP project.*
- The Standard Bank of South Africa Limited on the 27MW Klipheuwel Wind Farm and the Solar Capital De Aar 1 and De Aar 3 Projects.*
- Enel Green Power in relation to the preparation and submission of three solar/wind plus battery storage project bids under the RMIPPPP.*
- Globeleq in relation to the preparation and submission of a bid in respect of a thermal and renewable hybrid project under the RMIPPPP.*
- ALTEN African in relation to the financing of their 37MW solar PV Project in Hardap, Namibia.*
- Actis LLP on the establishment of Lekela, its pan African renewable energy platform with Mainstream, and its acquisition of a majority interest in three projects in Round 3 of the REIPPP Programme.*
- Actis LLP on its acquisition of the Biotherm Energy platform.*
- Lekela Holdings in relation to its acquisition of a majority interest in the Kagnas and Perdekraal East wind projects in Round 4 of the REIPPP programme as well as refinancing of its operational cashflows for purposes of collateralising guarantees to be issued in respect of its Egyptian and Senegal projects.*
- The Standard Bank of Namibia Limited and The Standard Bank of South Africa Limited in relation to the financing of the equity contributed by Zimbabwe Power Company to the expansion of Krabi Dam and the rehabilitation works for Kariba and Hwange Power Stations.*
- Black Rhino Limited and MOGS (Pty) Limited in respect of the development of an SBM refined products, import, storage and petroleum pipeline for delivery of liquid fuels to Ethiopia.*
- Ugandan National Oil Company on the framework agreement for the procurement of joint venture partners for the Uganda Refinery Project.*
- Oiltanking Grindrod Calulo on the development of a bulk liquid storage & handling facility in the Port of Ngqura, Coega, Eastern Cape.*
- Development Bank of South Africa on a multi-currency facility to East African Development Bank to fund infrastructure projects in its member states (English law).*
- Solar Saver SA Proprietary Limited, as borrower, in relation to the financing of a portfolio of C&I rooftop solar PV Systems across various sites.*
- Ithokazi on the establishment of a BEE platform combining BEE shareholdings in 9 REIPPP Projects and the preference share refinancing thereof.*
Awards
- Chambers Global ranked Alexandra in Band 4 for her work in Projects & Energy in South Africa (2025-2026).
- Legal 500 ranked Alexandra as a Leading Partner for her work in Projects and Infrastructure in South Africa (2025-2026).
- Who’s Who Legal: Energy 2023 listed Alexandra as one of the market leading energy lawyers in South Africa.
- IFLR1000 ranked Alexandra as Highly Regarded for her work in South Africa, in 2025
‘Alexandra Cluver is super organised and extremely dependable. She can advise on both a strategic level and then zoom in on the details.’ – Chambers Global, 2026
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