Mulilo secures funding for 105MW solar project in Northern Cape

Renewable energy developer, Mulilo, in partnership with H1 Capital, have achieved financial close on the 105MW Du Plessis Dam Solar PV2 facility, to be built near De Aar in the Northern Cape. The solar project, one of the first in South Africa to utilise an energy aggregator model, will supply electricity to offtaker Etana Energy.

The financial close of the Du Plessis Dam Solar PV2 facility was made possible through the collaboration of a multidisciplinary team of experts. Standard Bank Group served as the Mandated Lead Arranger, while legal and strategic advisory support was provided by Bowmans and ENS. PepperTree Capital also played a key role in the project’s financial structuring.

“This is more than just another solar project; it represents a new era of energy trading and innovation in South Africa,” said Jan Fourie, CEO of Mulilo. “By leveraging an aggregator model, we are pioneering a more dynamic and efficient energy market that will ultimately benefit businesses and consumers alike.”

Solar project strategic to Mulilo’s portfolio

The Du Plessis Dam Solar PV2 facility is expected to generate approximately 248 GWh of electricity annually once operational. The solar project is strategically located near several other Mulilo projects, and will be connected to the Kestrel Main Transmission Substation, a key infrastructure development also spearheaded by Mulilo. This substation has helped unlock critical grid capacity in the Northern Cape.

The Du Plessis Dam Solar PV2 facility is the latest in a string of successful projects for Mulilo. Over the past year, the company has closed 660MW of new renewable energy projects, adding to its existing operational portfolio of 420MW.

 “We have an exciting pipeline of projects ahead, and we remain committed to accelerating South Africa’s shift to sustainable energy,” concluded Fourie.