- South African renewable energy trader and aggregator NOA Group, and Standard Bank, have reached financial close on the 157 MW Khauta West solar PV facility following financial close in June for the 349 MW Khauta South facility.
- The renewable energy development introduces a pioneering financial structure to unlock capital for South Africa’s energy transition.
Located near Welkom in the Free State, the projects will become the country’s largest single-asset solar PV facility once constructed. Once operational the joint Khauta projects will generate 1,073 GWh of clean energy per year.
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The deal also introduces an innovative market-forming Payment Guarantee Facility structured by Standard Bank on behalf of NOA Trading. This facility acts as a financial catalyst, enabling NOA to free up equity capital that would typically be utilised as credit support. By unlocking this capital, NOA can accelerate the development of additional renewable energy projects, while maintaining its commitments under Generator Power Purchase Agreements (GPPAs).
The electricity will be wheeled through the national grid and will be sold to a portfolio of private-sector customers with PPA’s ranging from 12 months to 25 years.
The Khauta projects was acquired by NOA in April 2024 from Pure New Energy (PNE). Early works construction on the site began in early 2025, with energy production for Khauta South anticipated from early 2027 and Khuata West in Q4 2026. The company has plans to add a battery energy storage facility to the complex.
NOA is backed by African Infrastructure Investment Managers (AIIM), part of Old Mutual and one of Africa’s leading infrastructure- private equity fund managers. With over 740MW of grid-secured projects in its current portfolio, the company is on track to add significant generation capacity to South Africa’s grid from 2026.
Author: Bryan Groenendaal
LONGi’s high quality solar panels are available through an extensive distributor network in Africa. Link to the LONGi distributor list: LONGi Distributors List – Africa
