- SOLA Group has reached financial close and started construction on a 132MW solar PV plant at platinum mining operations operated by African Rainbow Minerals (ARM) in the North West province, South Africa.
- The project is owned by Sola Group and African Rainbow Energy and Power (AREP), with senior lending from Absa, Standard Bank, DBSA and Nedbank.
- ARM owns AREP, who acquired a 40% stake in SOLA Group in February 2021. Read more
Sola Group notes the project is uniquely local in that the financing, ownership, construction, and design are all 100% South African. Sola Group will construct and operate the facility through a joint venture with South African construction company WBHO.
“This project, together with two other projects currently under construction in the North West, a total of more than 300 MWAC, brings R6,4 billion of investments to the province. African Rainbow Energy is now invested in 1 Gigawatt of renewable energy projects.
“As a leading clean energy company this demonstrates our commitment to build a modern privately owned utility using technology to provide clean energy solutions to large customers, supporting the transition of the energy sector, creating more jobs, and changing the lives of South Africans,” says Brian Dames, CEO of AREP.
Read more on SOLA Group projects here
Author: Bryan Groenendaal