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South Africa’s SolarAfrica secures $93mn for 114MW solar plant

Solar farm. Photo by Michael Förtsch @ Unsplash
Solar farm. Photo by Michael Förtsch @ Unsplash

Ahmed Boulor

Ahmed Boulor is a Nigerian journalist who is versed in covering content regarding political economy, business, tech and energy markets
  • R1.5bn ($93mn) secured for 114MW solar plant
  • Project aims to stabilise energy costs

 

PRETORIA, SOUTH AFRICA – SolarAfrica has secured $93mn in financing to build a 114-megawatt solar plant in the Northern Cape, strengthening South Africa’s renewable energy push and corporate power security.

The funding, provided by RMB and Investec Bank Limited, brings the company to financial close on SunCentral 2, the second 114MW facility in its flagship utility-scale solar development. First power is expected in 2026.

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