Mulilo has reached financial close on the 380 MWdc Beaufort West solar photovoltaic (PV) facility, one of South Africa’s largest utility scale PV developments, located near Beaufort West in the Western Cape.
The facility will have an installed capacity of 380 MWdc, a contracted export capacity of 250 MWac and will connect to the Droërivier main transmission substation, enabling efficient integration into the national grid.
This milestone marks Mulilo’s fourth project to reach financial close in 2026, following the closure of the Orkney solar PV project located in the North West Province, as well as the Middlepunt solar PV and Mercury battery energy storage system (BESS) projects in the Free State. With the addition of the Beaufort West solar PV project, Mulilo has exceeded its target of deploying 1 GW of renewable energy projects annually, bringing its total portfolio – across both operational and construction phases – to over 2 GW. This milestone underscores the company’s rapid expansion as a leading player in the renewable energy sector.
Once operational, the facility is expected to generate approximately 818 GWh of clean electricity annually, sold to commercial and industrial customers across South Africa through a multi-year power purchase agreement with NOA. In doing so, the project is estimated to avoid approximately 860 000 tpy of CO2-equivalent emissions and generate enough electricity to power approximately 345 000 households annually.
This success was made possible through the support of its shareholders, Copenhagen Infrastructure Partners and Norfund, as well as close collaboration with Mulilo’s funding, legal, and advisory partners – including Absa, Standard Bank, Investec, and Nedbank, as well as Bowmans, PepperTree Capital, Fasken, and Arup.
Jan Fourie, CEO of Mulilo, commented: “The Beaufort West solar PV project is Mulilo’s first renewable energy project in the Western Cape Province and stands as a testament to Mulilo’s unwavering commitment to driving South Africa’s energy transition. We are pleased to have worked alongside NOA to bring this project to financial close, with a shared commitment to quality and long-term value creation. By delivering reliable, clean power at scale, we are not only addressing the country’s immediate energy needs but also paving the way for a sustainable and prosperous future.”
Karel Cornelissen, Group CEO at NOA, added: “Mulilo is a partner with a proven ability to deliver high-quality renewable projects, and this financial close reflects the strength of our collaboration and shared ambition. With this transaction, NOA’s diversified portfolio now approaches 1.5 GW of generation capacity in construction and development across owned assets and strategic offtake partnerships, enabling us to connect reliable renewable energy to commercial and industrial customers that need certainty and long-term supply.”
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