Pele Green Energy announced the financial close of the Sonvanger Solar PV Power Plant in the Free State province of South Africa. This project, developed in partnership with Glencore’s ferroalloys division and Merafe Resources, is a 100-megawatt (MW) solar facility. The cost to set up the plant is about R2.1 billion (USD 116 Million). Pele Green Energy stated that this plant will contribute to renewable energy generation in the country.
According to Pele Green Energy, “the project will be funded through a combination of debt and equity. Debt financing is being provided by South Africa’s Nedbank Group and Absa Group.” Pele Green Energy is investing equity into the project to support its development. The plant is designed to provide clean energy to industrial operations in the region, helping reduce dependence on fossil fuels.
Pele Green Energy has been involved in several renewable energy projects in recent years. One of these is the De Wildt Solar Plant in the Northwest province, with a capacity of 50 MW, which was developed to support local communities and businesses with renewable power. The company has also participated in wind energy projects, including the Tsitsikamma Community Wind Farm in the Eastern Cape which has an installed capacity of 95 MW. This wind farm generates electricity for the national grid, supporting the country’s renewable energy targets.
The Sonvanger project adds to Pele Green Energy’s portfolio of solar, wind, and other renewable energy projects across South Africa. These projects are in line with the country’s Integrated Resource Plan, which aims to diversify the energy mix and reduce greenhouse gas emissions.
