Koeberg Nuclear Power – Safety Concerns Raised

October 20, 2024 • Estimated Reading Time: 2 minutes

Key Figures & Findings: Norwegian renewable energy giant Scatec ASA has secured a financial close on a ZAR 3 billion ($169 million) battery energy storage system (BESS) in South Africa, marking a significant step in the country’s green energy efforts. The 103-MW/412-MWh Mogobe BESS, located in the Northern Cape, will be constructed and maintained by Scatec, which holds a 51% ownership stake. Its local partners, Perpetua Mogobe (RF) (Pty) Ltd and the Mogobe Local Community Trust hold 46.5% and 2.5%, respectively. The project is part of the South African Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP), aimed at increasing the country’s renewable energy storage capacity.

Statistics & Insights: The Mogobe BESS, financed through ZAR 2.7 billion ($152 million) in project debt arranged by Standard Bank of South Africa, will be operated under a 15-year power purchase agreement (PPA). It is one of two projects in South Africa’s battery storage programme to reach commercial close this week, representing a combined total of 180 MW/720 MWh of energy storage.

Future Implications: By 2026, Scatec’s involvement in South Africa’s energy transition could help address the nation’s grid reliability issues. The successful execution of this BESS project could accelerate the deployment of more renewable energy projects, setting a precedent for large-scale battery storage solutions in the region.