Pele Green’s Solar Milestone in South Africa

Key Figures & Findings:
Pele Green Energy (PGE), a 100% South African and black-owned independent power producer (IPP), has achieved a significant milestone with the financial close of the 100 MW Sonvanger solar PV project in Free State. This project will provide clean energy to Glencore Merafe Venture’s ferrochrome smelters, marking a major step in reducing Scope 2 emissions while supporting South Africa’s sustainable energy goals. CEO Gqi Raoleka emphasized how this deal represents the culmination of 15 years of PGE’s growth, transitioning from a minority partner to a fully-fledged IPP with capabilities in development, operation, and maintenance.

Statistics & Insights:
The $105 million project will use 195,000 solar panels across 270 hectares in Masilonyana and is expected to be operational within 20–24 months. With 85% of its funding secured through debt financing from Nedbank and Absa, PGE demonstrates financial innovation in the renewables sector.

Future Implications:
As construction begins, PGE’s trajectory includes expanding its portfolio from 1 GW in 2022 to a targeted 5 GW by 2027. This project showcases the potential for homegrown IPPs to compete on a global scale while addressing South Africa’s energy and sustainability challenges.

Source: Mining Weekly