A consortium comprising energy major TotalEnergies and renewable energy developers Mulilo and Reatile Renewables has achieved financial close for two projects in South Africa. With a combined capacity of 260 MW, the projects will provide power to global chemicals and energy company Sasol and gas producer Air Liquide, supporting the companies in their decarbonization efforts.
At a cost of R7.5 billion, the projects include the 140 MW De Aar 2 South wind farm and the 120 MW Paarde Valley PV2 solar plant, both of which are situated in South Africa’s Northern Cape province. The projects’ design, financing, construction, operation and maintenance will be led by the consortium, with construction having commenced in early-November. Debt financing will be provided by a consortium of lenders, including local financial institutions Standard Bank, ABSA and Nedbank.
Mulilo CEO Jan Fourie stated that “Our partnership with TotalEnergies will help Sasol and Air Liquide Large Industries South Africa achieve their decarbonization goals.”
According to Sarushen Pillay, Executive Vice President of Sasol’s Business Building, Strategy and Technology Business, the projects align with Sasol’s transition to renewable energy. He said: “Our plans to meet our target of 1,200 MW of renewable energy by 2030 is moving at pace and in an advanced stage of development. Once operational, the projects will significantly contribute to Sasol achieving its 30% GHG reduction target by 2030.”
