- Mulilo’s 337 MW solar PV project delivers power at ZAR 458 per MWh, among lowest globally.
- It is the first project from REIPPPP Bid Window 7 to reach financial close.
Mulilo has reached financial close on the 337 MW Middlepunt solar photovoltaic project in South Africa’s Free State province, marking its second project to close in 2026 and a significant milestone for the country’s renewable energy sector.
The project, located near Welkom, has a contracted export capacity of 240 MW and is the first development awarded under the Renewable Energy Independent Power Producers Procurement Programme Bid Window 7 to achieve financial close. The milestone reflects coordinated support across national, provincial and local government structures.
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Once operational, Middlepunt is expected to generate about 770 GWh of electricity each year. The project will connect to the Everest Main Transmission Substation, supporting efficient integration into the national grid while strengthening transmission capacity.
The solar facility is projected to avoid around 813000 tonnes of carbon emissions annually and supply enough electricity to power approximately 325000 households. At a tariff of ZAR 458 per MWh, or about US$27 per MWh, the project ranks among the most cost competitive renewable energy developments globally and highlights the rapid decline in clean energy costs in South Africa.
A 20-year power purchase agreement has been signed with the National Transmission Company of South Africa, underlining the growing importance of transmission reform in unlocking new generation capacity and enabling market evolution.
Middlepunt forms part of Mulilo’s broader strategy to deliver 1 GW of new capacity each year across solar, wind and battery storage technologies, reinforcing its position in South Africa’s energy transition.
The project was delivered through collaboration between public and private sector stakeholders, including the Department of Electricity and Energy, the Independent Power Producer Office, the National Transmission Company of South Africa and Eskom. Financial and legal advisory support was provided by Standard Bank, Absa, Nedbank, PepperTree Capital, Bowmans, Fasken and DKVG, alongside technical advisory from Arup and insurance advisory from Marsh.
Mulilo’s shareholders, Copenhagen Infrastructure Partners and Norfund, supported the transaction together with co-sponsors Reatile Group and Perpetua as black economic empowerment partners, as well as a local community trust. The structure reflects a continued focus on inclusive participation and long-term value creation within the Matjhabeng Local Municipality.
Author: Bryan Groenendaal
