South Africa Approves Battery Projects

Key Figures & Findings: South African renewable energy leader Mulilo, in collaboration with EDF International, Pele Green Energy, and Gibb Crede, has achieved financial close on three Battery Energy Storage System (BESS) projects under the Oasis initiative. These projects are part of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) and mark a significant step toward strengthening South Africa's grid. Jan Fourie, CEO of Mulilo, emphasized the transformative role of BESS in diversifying South Africa’s energy mix and reducing dependency on fossil fuels. The projects are backed by debt financing from local banks, including Standard Bank and ABSA, underlining strong local financial support for clean energy.

Statistics & Insights: The combined capacity of the three projects—Mookodi, Aggeneis, and Nieuwehoop—is 257MW/1,028MWh, with a total capital cost of approximately R7 billion($390 million). Operations will commence under a 15-year Power Purchase Agreement with Eskom, solidifying energy resilience.

Future Implications: These projects could enhance South Africa's grid stability by 2025, contributing to the country's energy transition and just energy goals. 

Source:  Zawya