Mulilo recently announced that it has successfully reached financial close on the Orkney Solar PV Facility, a 219 MWDC solar photovoltaic project with a contracted export capacity of 150 MWAC. The facility is located about 11 km south-west of the town of Orkney in South Africa’s North West Province.
Having reached financial close, the 219 MW Orkney solar power plant will move into construction.
The project represents an important milestone in Mulilo’s ambitious plan to deliver 1 GW of new generation capacity annually, reinforcing the company’s role as a leading contributor to South Africa’s energy transition.
The Power Purchase Agreement (PPA) concluded with Etana Energy in record time, confirms strong market confidence in the project’s technical and commercial fundamentals and demonstrates both parties’ ability to execute at pace.
Once operational, the Orkney Solar PV Facility is expected to generate around 478 GWh of clean electricity each year, which will be sold to Etana’s customers across South Africa. This will result in the avoidance of over 500 000 tonnes of carbon dioxide-equivalent emissions annually and will provide enough energy to power about 210 000 households.
The facility will connect to the Jersey Distribution Substation via a newly constructed 24 km overhead transmission line to ensure integration into the regional electricity network. It is also designed to be battery energy storage system (BESS) ready, enabling future integration of storage capacity to enhance grid flexibility with dispatchable power.
The project has been made possible with the support of shareholders, Copenhagen Infrastructure Partners (CIP) and Norfund, as well as close collaboration with Mulilo’s funding, legal and advisory partners – including Absa Bank, Standard Bank of South Africa, Fasken, Arup, PepperTree Capital and ENS Africa – whose collective expertise underpinned a robust and disciplined process.
“The financial close of the Orkney Solar PV project marks a further step in advancing Mulilo’s commitment to strengthening South Africa’s energy security,” said Jan Fourie, Chief Executive Officer of Mulilo.
“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.”
Jay Govender, Chief Commercial and Legal Officer at Etana Energy, commented: “This project represents another significant step for Etana Energy’s growth, with the Orkney solar plant being more than double the size of our first solar project under construction with Mulilo. The speed at which we were able to reach financial close on this project 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.”
For more information visit: www.mulilo.com
