en.Wedoany.com Reported - The South African renewable energy company Mulilo recently announced that its Middlepunt Solar Photovoltaic Project, located near Welkom in the Free State Province, has successfully achieved financial close. With an installed capacity of 337 megawatts, this project is the second solar project completed by Mulilo this year.
The Middlepunt solar facility has a contracted export capacity of 240 MW AC. It is the first project under the seventh bidding window of the South African government's Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) to achieve financial close. The power station is expected to generate approximately 770 gigawatt-hours of clean electricity annually and will be connected to the Everest main transmission substation to facilitate efficient integration into the national grid.
The project is estimated to reduce carbon emissions by approximately 813,000 tonnes per year and provide electricity for about 325,000 households. According to the agreement, the electricity will be delivered at a price of 458 South African Rand per megawatt-hour (approximately $27), making it one of the lower-cost renewable energy projects globally. South Africa's National Transmission Company has signed a 20-year Power Purchase Agreement with the project developer.
The Middlepunt solar project aligns with Mulilo's goal of adding 1 gigawatt of capacity annually in solar, wind, and battery storage. Key participants include South Africa's Department of Mineral Resources and Energy, Eskom, the Independent Power Producer Office, as well as financial and advisory partners. Jan Fourie, CEO of Mulilo, stated: "The financial close of the Middlepunt Solar Photovoltaic Project marks a significant milestone for South Africa's renewable energy program under the seventh bidding window. This achievement is the result of the collective effort and collaboration among government, industry, and our financial, legal, and technical partners. We thank everyone who contributed to making this project a reality."
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