ABO Wind has sold the project rights to two 100MW solar projects in South Africa to domestic developer SOLA Group.
SOLA, an independent power producer, has already concluded a private power purchase agreement (PPA) for the projects with the mine operator Tronox.
According to SOLA, these are Africa’s largest renewable energy projects financed through a corporate PPA to date.
Most renewable energy projects in South Africa receive a government-subsidised tariff, which is awarded through tenders.
Construction is about to start and SOLA plans to have the projects operational in 2023.
“These project sales are our first major success in South Africa,” says Robert Wagener, the Head of Department at ABO Wind who is responsible for the country.
“We are particularly pleased because these are the first projects with which we had started our development activities in South Africa.”
The sale agreements were signed in 2021.
Now that the buyers have reached financial close, the contracts have become binding.
“The cooperation with ABO Wind brings us closer to our goal of advancing clean energy in Africa. We are proud that the projects are now fully South African owned and financed, built, operated, and managed here in the country,” said Chris Haw, Co-founder and Executive Director of the SOLA Group.