South African independent power producer Mulilo has successfully reached financial close for the Du Plessis Dam Solar PV2 facility, a 105MW (75MWac) solar photovoltaic project located near De Aar in the Northern Cape. This milestone marks a breakthrough in South Africa’s energy landscape as one of the first projects to close under an energy aggregator model, with Etana Energy as the offtaker. Mulilo is developing the project in collaboration with H1 Capital.
Pioneering a New Energy Model
Mulilo CEO Jan Fourie emphasized the project’s groundbreaking approach, stating: “This isn’t just another solar project—it represents a shift in how energy is traded in South Africa. By leveraging an aggregator model, we’re driving a more dynamic and efficient energy market, ultimately benefiting businesses and consumers alike.”
Strengthening South Africa’s Renewable Energy Landscape
The Du Plessis Dam Solar PV2 facility is expected to generate approximately 248 GWh of electricity annually, making a significant contribution to the country’s clean energy supply. Strategically located near other Mulilo developments, the project is one of four plants connecting to the Kestrel Main Transmission Substation. Developed by Mulilo, this substation has unlocked crucial grid capacity, enabling further renewable energy integration into South Africa’s power network.
Expanding a Growing Renewable Energy Portfolio
This latest achievement adds to Mulilo’s expanding renewable energy portfolio. Over the past year alone, the company has closed 660MW of new renewable energy projects, supplementing its existing 420MW of operational capacity. The Du Plessis Dam Solar PV2 facility follows the recently finalized Ukuqala Solar project, reinforcing Mulilo’s leading role in South Africa’s energy transition.
A Testament to Strong Partnerships
The financial close was made possible through collaboration with key financial, legal, and strategic advisory teams, including Pepper Tree Capital, Bowmans, ENS, and Standard Bank as Mandated Lead Arranger. “This achievement underscores the strength of our partnerships and our unwavering commitment to accelerating South Africa’s shift to sustainable energy,” Fourie added.
As Mulilo continues expanding its renewable energy pipeline, it remains a vital player in supporting South Africa’s energy security and decarbonization goals. With innovative models like the aggregator approach, the company is not only advancing its own portfolio but also helping reshape the future of energy in the region.
