Investec Backs SolarAfrica’s 114 MW Solar Project

Key Figures & Findings: Investec a global financial services company has committed $100 million (R1.8 billion) to SolarAfrica’s SunCentral 1, marking a key step in South Africa’s renewable energy expansion. The 114 MW utility-scale solar project in the Northern Cape is the first phase of a 1 GW solar development aimed at supplying clean power to corporate buyers. The project is being developed in partnership with Enpower, a NERSA-approved energy trader, enabling businesses to access renewable energy through wheeling agreements.

Statistics & Insights: SunCentral 1 will generate 114 MW in its first phase, part of a 342 MW Phase 1 rollout. With Phases 2 and 3, the total project capacity is expected to reach 1 GW, significantly enhancing South Africa’s renewable energy supply.

Future Implications: If successfully Completed, SunCentral’s wheeling agreements could make corporate access to green energy more cost-effective, boosting South Africa’s sustainability goals by 2025 and beyond.

Source: ESG News