Reading Time: 1 minutes
Magnora, a Swedish renewables developer, has received environmental authorization for a 260MW solar plant it is developing in South Africa. A co-located battery storage facility for utility scale can also be constructed as part of the solar PV project.
Magnora stated that authorisation means the project has all the necessary permits.
“We are very pleased with our development in South Africa and see great interest from potential buyers in the market for mature projects,” said CEO Rik Sneve. He added the Oslo-based company expects to have projects ready for divestment by the end of this year.
The area in which the project is located has a high level of solar radiation. It is expected to produce more than 2300 kilowatts/kW annually, which is more that twice the output ratio of the Nordic’s best sites.
Magnora entered the South African renewables market in February 2021 by acquiring a portfolio of 850 MW projects. In February 2022, the developer purchased 92% of African Green Ventures (AGV), a renewable project development company.
The current portfolio of active projects in South Africa consists of around 1.8GW.