en.Wedoany.com Reported - South African independent power producer Mulilo has reached financial close for the Hartebeesfontein Battery Energy Storage System (BESS) project, a 77MW/308MWh energy storage facility located near Klerksdorp in the North West Province.

This is Mulilo's second renewable energy project implemented within the Maquassi Hills Local Municipality, an area close to state-owned utility Eskom's Hermes main transmission substation.

The Hartebeesfontein BESS project was secured under the second bid window of the Battery Energy Storage Independent Power Producer Procurement Programme, through which Mulilo won five out of eight projects.

The project will utilize its 308MWh storage capacity to provide system support and deliver ancillary services to the National Transmission Company of South Africa (NTCSA) under a 15-year power purchase agreement.

Mulilo stated that achieving financial close for the project was made possible through collaboration between the public and private sectors, as well as support from key partners, including the Department of Electricity and Energy, the Independent Power Producer Office, NTCSA and Eskom, along with Mulilo's shareholders Copenhagen Infrastructure Partners (CIP) and Norfund.

Mulilo's partner is the Reatile Group.

Sunette Smith, Chief Operating Officer of Reatile Group, said that reaching financial close for the project is not just a project milestone but a testament to what South African companies can achieve when capital, policy, and execution are aligned. She noted that through the partnership with Mulilo in securing five projects under the second bid window, the collaboration is systematically building the infrastructure backbone needed to unlock South Africa's renewable energy future.

Financing was provided by Absa, Standard Bank, and Nedbank, with legal and advisory support from ENS, Bowmans, Fasken, PepperTree Capital, Marsh, and Arup.

Jan Fourie, CEO of Mulilo, said that reaching financial close for the Hartebeesfontein BESS project marks a significant milestone in South Africa's battery storage expansion. He pointed out that as the fifth project to reach financial close in 2026, this reflects the work of the Mulilo team, its partner Reatile Group, and stakeholders. Fourie stated that Hartebeesfontein will help strengthen grid stability and support the continued growth of renewable energy, demonstrating the important role of collaboration in driving South Africa's energy transition.

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