- Renewable energy aggregator NOA Group has reached financial close on the 349MW Khauta South Solar PV project.
- Located near Welkom in the Free State, the project will become the country’s largest single-asset solar PV facility once constructed.
- Khauta South forms part of a larger 506MW complex, alongside Khauta West (157MW), positioning the Free State as a strategic hub for utility-scale renewable energy projects.
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).
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Power from the Khauta project will be wheeled via the Eskom grid to a portfolio of companies across sectors including mining, manufacturing, data centres, and real estate. Among the confirmed off-takers is Redefine Properties, which will use the green energy to help decarbonise its property portfolio and reduce exposure to rising energy costs.
The transaction reflects a broader shift in South Africa’s private sector energy market, where traders like NOA are aggregating demand and matching it with scaling renewable generation, enabling broad access to clean energy for commercial and industrial businesses.
Cornelissen noted that the country’s constrained grid environment remains a key challenge. “While grid bottlenecks persist in many resource-rich areas, we see growing opportunity in optimising secured capacity,” he said. “As part of our strategy, we’re investing in Battery Energy Storage Systems (BESS) to enable better load-shifting and maximise the export of clean energy from our assets.”
The Khauta South project 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.
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.
Khauta project details
- Khauta West: 157 MW; Khauta South: 349MW: Total Capacity: 506MW
- Location: near Welkom, Free State, South Africa
- Annual generation: 1073 GWh
- Scheduled construction commencement: Q4 2024
- Acquired by NOA (April 2024) from Pure New Energy (PNE)
- Khauta West COD: Q4 2026
- Khauta South COD: Q1 2027
- Feed to Eskom’s transmission network via the overhead line to the Leander Substation.
Author: Bryan Groenendaal
