Renewable energy solutions provider Scatec has reached financial close for the 103 MW Mogobe battery energy storage system (BESS) facility in South Africa. The company is now making final preparations to start construction of the project.
Situated near the town of Kathu in Northern Province, the $170 million project was awarded a 15-year power purchase agreement (PPA) under South Africa’s inaugural Battery Energy Storage Independent Power Producer Procurement Program bid window. Under the PPA, storage capacity for the project will be made available to the National Transmission Company of South Africa.
Scatec will serve as the engineering, procurement and construction contractor for the facility, and will provide operations and maintenance to the project. The renewable energy developer will own a 51% equity in the project, with fund managers Perpetua Mogobe and the Mogobe Local Community Trust holding the remaining 46.5% and 2.5%, respectively.
