SolarAfrica Secures $98M for SunCentral Project

February 25, 2025 • Estimated Reading Time: 2 minutes

Key Figures & Findings: SolarAfrica has reached financial close on the first 114 MW phase of its SunCentral solar project, backed by a $98 million investment from Rand Merchant Bank (RMB) and Investec. The project, located in South Africa’s Northern Cape, is designed to reach 1 GW upon completion. Its one-to-many wheeling model enables multiple businesses to access clean power, lowering operational costs and emissions. Starsight Energy Africa Group, SolarAfrica’s parent company, sees this as a key step toward expanding clean energy adoption in Sub-Saharan Africa.

Statistics & Insights: The SunCentral project will be rolled out in three 114 MW phases, contributing to South Africa’s goal of adding 30 GW of renewable capacity by 2030. Its modular approach ensures scalability, cost efficiency, and price stability.

Future Implications: If successful, SunCentral could serve as a blueprint for similar projects in other African markets. The wheeling model may attract further investment in decentralized, large-scale renewable projects.