Magnora, a renewable energy investor, has completed the sale of a 90MW solar PV project in South Africa to independent power producer Globeleq.
While the exact location of the plant remains undisclosed, Magnora will oversee its development in partnership with the UK-based IPP.
Notably, Magnora has expanded its presence in South Africa, acquiring an 850MW portfolio in 2021 and further bolstering it with the purchase of solar and wind developer African Green Ventures. This has resulted in a substantial project portfolio, totaling nearly 2GW under development.
Meanwhile, Globeleq boasts 219MW of operational solar PV capacity in South Africa, secured during the fifth bidding round of the country’s Renewable Energy Independent Power Producers Procurement Programme (REIPPPP).
The project reflects the growing interest in renewable power from South Africa’s private sector, particularly within the commercial and industrial (C&I) market.