South Africa Launches 260-MW Green Energy Project

Key Figures & Findings: A three-party consortium, comprising South Africa’s Reatile Group a prominent investment holding company based in South Africa, Mulilo renewable energy sector in South Africa, and TotalEnergies Renewables, has reached financial close on a 260-MW renewable energy project, with Funding from Standard Bank, ABSA, and Nedbank. This ZAR 7.5 billion ($414.6 million) initiative will develop the 140-MW De Aar 2 South wind farm and the 120-MW Paarde Valley PV2 solar farm in Northern Cape. The consortium will also construct the Kestrel Main Transmission Substation upon completion, transferring it to Eskom, South Africa’s state-owned utility.

Statistics & Insights: The project aims to supply 900 GWh annually under corporate PPAs with Sasol Ltd and Air Liquide, powering Sasol’s Secunda site, 700 km away. This renewable effort is expected to mitigate reliance on fossil fuels, leveraging Northern Cape’s optimal solar and wind conditions.

Future Implications: The project could significantly reduce Sasol’s reliance on fossil fuels by 2025. Also, Its integration into Eskom's grid could stabilize the energy supply, which is crucial for national growth and reduced emissions, supporting South Africa’s renewable energy transition goals

Source: Renewables Now