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Investec has successfully closed financing for SolarAfrica’s SunCentral 1, securing the first 114 MW of the company’s utility-scale solar farm in the Northern Cape. The deal, valued at R1.8 billion,…
The post Investec Announces Financial Close of SolarAfrica’s $100 Million SunCentral 1 Solar Farm appeared first on ESG News.
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Investec Announces Financial Close of SolarAfrica's $100 Million SunCentral 1 Solar Farm – ESG News
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Investec Announces Financial Close of SolarAfrica’s $100 Million SunCentral 1 Solar Farm
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Investec Announces Financial Close of SolarAfrica’s $100 Million SunCentral 1 Solar Farm
by ESG News
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February 4, 2025
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R1.8 billion deal: Investec funds 50% of SolarAfrica’s first 114 MW utility-scale solar project.
1 GW total capacity: SunCentral aims to provide renewable energy to corporate buyers through wheeling.
Green energy transition: Project aligns with South Africa’s push for affordable, sustainable power.
Investec has successfully closed financing for SolarAfrica’s SunCentral 1, securing the first 114 MW of the company’s utility-scale solar farm in the Northern Cape. The deal, valued at R1.8 billion, marks a major milestone in South Africa’s renewable energy sector. Investec served as co-mandated lead arranger for debt and hedging requirements (interest rate and forex) of the project.
Expanding Renewable Energy Access
SunCentral, developed by SolarAfrica Energy, will generate a total of 342 MW in Phase 1, selling renewable power to corporate buyers in partnership with Enpower, a NERSA-approved Energy Trader.
“Reaching financial close on the first 114 MW of our utility-scale wheeling development and Main Transmission Substation (MTS) investment marks a significant milestone in our commitment to advancing sustainable energy solutions for our customers in the commercial and industrial sectors.” — Charl Alheit, CIO, SolarAfrica Energy.
With Phases 2 and 3 planned, SunCentral will eventually deliver 1 GW of clean energy to businesses across South Africa, reducing costs and emissions through wheeling agreements.
Related Article: Schroders Launches Major Solar Farm Installation at Horsham Campus to Boost Sustainability
“We are excited to see this project move forward as we continue contributing to the energy transition while delivering long-term value to our customers.” — Charl Alheit.
Investec’s Commitment to Sustainability
Investec views SunCentral 1 as a strategic fit for its sustainability-driven investment approach.
“We have a longstanding relationship with SolarAfrica Energy, who share our vision of a sustainable energy future for our continent.” — Martin Meyer, Head of Energy and Infrastructure Finance, Investec.
Martin Meyer, Head of Energy and Infrastructure Finance, Investec
As South Africa accelerates its energy transition, SunCentral positions corporate buyers for a greener, more cost-effective power future.
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