Mainstream Renewable Power Secures Financing for 97.5 MW Solar PV Farm through Corporate PPAs in South Africa

Mainstream Renewable Power, a global leader in wind and solar energy, has recently closed financing for a substantial 97.5 MW solar photovoltaic (PV) farm in South Africa. This initiative, owned predominantly by Aker Horizons ASA, is set to house 20-year Power Purchase Agreements (PPAs) with industry giants Sasol and Air Liquide.

Scheduled for construction initiation this year in the Free State province, the solar farm anticipates full operational readiness by 2025. The energy generated will be channeled through the national grid to power Sasol and Air Liquide’s facilities in Secunda, Mpumalanga province. The PPAs form part of a collective effort by Sasol and Air Liquide to steer their operations towards decarbonization.

Hein Reyneke, Mainstream’s General Manager for Africa, expressed pride in partnering with Sasol and Air Liquide, highlighting the project’s capacity to efficiently address decarbonization needs. Recognized as a premier developer of renewable energy in South Africa, Mainstream’s role in private PPAs stands crucial in alleviating the nation’s energy constraints, offering swift and cost-effective solutions to energy security and load shedding challenges.

Private off-take agreements hold the promise of delivering substantial energy volumes promptly and reliably, mitigating companies’ exposure to escalating energy expenses while aiding in achieving their decarbonization objectives. Beyond energy output, the project is poised to benefit the local community by creating job opportunities and investing in socio-economic development.

Reyneke emphasized the significance of this agreement in aligning with South Africa’s energy security needs, contributing to the energy transition, and fostering the role of independent power producers in revitalizing the national economy.

Mainstream has established itself as a key player in the South African renewable energy landscape, boasting a track record of delivering 850 MW of wind and solar assets in the past 15 years. With a robust project pipeline exceeding 10 GW of onshore wind and solar PV spread across multiple provinces, the company remains steadfast in its commitment to sustainable energy. Additionally, its subsidiary, Mainstream Asset Management South Africa (MAMSA), ensures long-term asset integrity through operations and maintenance services.