South African renewables firm Mulilo and energy trader Etana Energy have signed a power purchase agreement (PPA) for the 219 MW Orkney solar project in the North West province. The facility will provide wheel power to Etana’s commercial and industrial customers via the wheeling framework.
The conclusion of the PPA enabled the project to reach financial close. Mulilo delivered the project with support from a consortium of leading South African funding, legal, and advisory partners, including Absa Bank, Standard Bank, Fasken, Arup, PepperTree Capital, and ENS Africa.
Once operational, the Orkney project will generate approximately 478GWh of renewable electricity annually for Etana’s customers, displacing over 500,000 tons of CO₂ emissions per year. This marks the second project to reach financial close between Etana Energy and Mulilo in 12 months.
“This project marks another significant step in Etana Energy’s growth, with the Orkney solar plant being more than double the size of our first solar project under construction with Mulilo,” said Jay Govender, Etana Energy’s Chief Commercial and Legal Officer.
“The speed at which this project has reached financial close demonstrates the strength of our partnership with Mulilo, the bankability of our respective structures, and the accelerating demand from customers for reliable, large-scale renewable electricity delivered through Etana’s platform,” added Govender.
Etana stated that the rapid expansion of its generation portfolio reflects strong customer demand for its flexible energy supply solutions.
Jan Fourie, Chief Executive Officer of Mulilo, said financial close on the Orkney Solar PV project marks an important milestone in advancing the company’s commitment to strengthening South Africa’s energy security.
“This achievement reflects the strength of our partnerships, the capabilities of our team, and the growing role of private-sector generation in solving South Africa’s energy challenges. We are honoured to work with Etana Energy and our partners to deliver clean, reliable power and lasting economic value to the North West Province and beyond,” said Fourie.
