Globeleq, Mainstream consortium signs PPAs for 450 MW of S Africa solar

The Ikamva Consortium, led by Africa-focused independent power producer (IPP) Globeleq and Mainstream Renewable Power, has signed agreements to advance six solar projects with a combined capacity of 450 MW in South Africa.

The projects are part of a 1.27-GW solar and wind portfolio that enabled Ikamva to emerge as the big winner in the fifth round of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) in October 2021.

On Thursday, Globeleq and Mainstream said that the group had signed 20-year power purchase agreements (PPAs) and implementation agreements with South African utility Eskom and the Department of Mineral Resources and Energy (DMRE), respectively, for the solar half of the portfolio.

The projects in question are Kentani, Leliehoek, Klipfontein, Klipfontein 2, Braklaagte and Sonoblomo, each of 75 MW and all in the Free State Province. According to Mainstream, they will represent an investment of ZAR 9 billion (USD 524.3m/EUR 497.6m).

The consortium will now work to move the project to financial close, which is expected in 2023. Commercial operations would start in 2025.

(ZAR 100 = USD 5.83/EUR 5.53)

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