PE-backed Mulilo reaches financial close on South African solar project
The project is expected to generate about 770 GWh a year.
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Renewable energy developer Mulilo has reached financial close on the Middlepunt Solar PV project, a 337 MW (DC) solar photovoltaic facility with a contracted export capacity of 240 MW (AC), located near Welkom in South Africa’s Free State province.
Once operational, the project is expected to generate approximately 770 GWh of clean electricity annually and will connect to the Everest Main Transmission Substation, enabling efficient integration into South Africa’s national grid. The electricity supplied to the South African grid is priced at ZAR 458/MWh (approximately USD 27/MWh). A 20-year power purchase agreement has been concluded with the National Transmission Company of South Africa (NTCSA).
Mulilo’s shareholders include Copenhagen Infrastructure Partners and Norfund.
Jan Fourie, CEO of Mulilo, commented: “Financial close of the Middlepunt Solar PV project marks a major achievement for South Africa’s renewable energy programme under Bid Window 7. Reaching this milestone required immense effort and collaboration from a wide range of stakeholders across government, industry, and our financial, legal and technical partners. We are deeply grateful to all who contributed to making this project a reality.”
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