News Flash
- South African IPP, NOA Group, has acquired the 350MW Khauta Solar PV Facility near Welkom in the Freestate from PNE, the project developer.
These solar PV assets are on track for financial close and the commencement of construction by Q4 2024, reinforcing NOA’s plans to expand its renewable energy portfolio with the backing of its shareholder AIIM and other key stakeholders.
“With $180 million in equity financing already secured for development, we are scaling our operations, which includes an extensive pipeline of projects. By the end of this year, we expect to have approximately 450MW of our fleet of renewable energy facilities under construction,” said Karel Cornelissen, CEO of NOA Group.
The Khauta project is not only a significant addition to NOA’s portfolio but also marks its inaugural venture into utility-scale solar PV facilities, underscoring the company’s role as an energy aggregator, capable of generating, wheeling, and selling clean electricity nationwide to clients across the country, all committed to decarbonising their operations.
Author: Bryan Groenendaal
