Mulilo reaches financial close on 75 MW solar plant
Independent power producer Mulilo has reached financial close on the Ukuqala Solar Project, in the Northern Cape. This is the sixth project that Mulilo has closed this year, adding 75 MW alternating current (ac) to projects under financial close in the pipeline.
Mulilo says its multi-disciplinary team will manage construction and deliver asset management and operations and maintenance services.
The company notes that Ukuqala Solar is also the first renewable energy project to power Air Product’s Air Separation Units across South Africa, with electricity delivered through wheeling to various locations.
The project will be one of four other Mulilo projects connected to the Kestrel Main Transmission Substation, which is under construction.
Located strategically near other Mulilo facilities, the Ukuqala Solar Plant boasts a 105 MW direct current (dc) installed capacity with a 75 MWac maximum output, owing to an optimised design featuring a high dc:ac ratio.
This design enables the plant to reach its maximum output earlier in the day and sustain it for longer, contributing about 248 GWh/y of power.
“Ukuqala Solar is the sixth project closed by our team this year and our first project as lead developer. It demonstrates our ability to develop bespoke projects for the private sector and deliver on our integrated business model,” says Mulilo CEO Jan Fourie.
Mulilo says this project was made possible with the support of Nedbank, Standard Bank South Africa and Absa, all who provided debt financing for Ukuqala.
Additionally, the company describes the commitment of Peppertree Capital, law firm ENS, consultancy ABL, Bowmans and Arup in their various capacities as advisors as “instrumental” in achieving financial close on this project.
“As the renewable energy landscape in South Africa evolves, Mulilo is poised to continue delivering innovative and impactful projects that support both local industry needs and global sustainability goals,” says Mulilo.
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