Debt financing has been secured through a consortium of local lenders, including Standard Bank and Absa.
Independent power producer Mulilo − in collaboration with EDF International, Pele Green Energy and Gibb Crede − has reached financial close on three battery energy storage system projects.
The project is located in Vryburg, North-West, and is part of South Africa’s first Battery Energy Storage Independent Power Producer Procurement Programme, which marks a milestone in the nation's clean energy journey, says the company in a statement.The other two projects, Oasis Aggeneis and Oasis Nieuwehoop, reached financial close on Thursday last week and construction is scheduled to begin this month.
It points out that this underscores the dedication and expertise of a diverse, multidisciplinary team of over 100 professionals from 10 different organisations, working collaboratively to bring this project to financial close within 12 months of achieving preferred bidder status. “These BESS initiatives are pivotal for the nation, enhancing grid stability and enabling increased integration of renewable energy sources, such as solar and wind. This flexibility is crucial to achieving an optimised and balanced energy generation mix. We are also proud of the positive impact these projects will have on local communities.”
Battery Energy Storage System BESS Oasis Aggeneis Oasis Nieuwehoop Jan Fourie Renewable Energy Ipps Standard Bank Absa
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