SolarAfrica recently announced that it closed around R1.5 billion ($93.9 million) in financing. With these funds it will be able to advance the development of its newest venture—the 114MW SunCentral 2 solar project. Located in the Northern Cape of South Africa, this ambitious project aims to provide clean, affordable, and predictable power to businesses across the region. The financing was mostly funneled by FirstRand, with further support from RMB and Investec’s corporate and institutional banking division.
David McDonald, the CEO of SolarAfrica, stated that the growing demand from businesses for reliable energy sources underscores the significance of this initiative. He focused on the fact that what companies are looking for is power they can depend on, and that is exactly what SunCentral is designed to provide.
“Businesses want power they can trust – clean, affordable and predictable – and SunCentral is being built exactly for that purpose. It is encouraging to see the confidence from our funding partners as we move into the next stage of delivery.” – David McDonald, SolarAfrica CEO
The SunCentral 2 project constitutes a piece of SolarAfrica’s deep wheeling pipeline, which includes a truly staggering 3GW under development across the country. This pipeline represents the company’s commitment to driving the growth of renewable energy solutions. It seeks to expand energy access to commercial and industrial customers.
McDonald pointed to this model as key to empowering businesses. With wheeling, companies gain greater control over their energy consumption, allowing them to adapt to fluctuating tariff rates and plan for sustainable growth with a cleaner energy mix.
“With wheeling, we have a model that puts control back into the hands of commercial and industrial customers. Instead of just surviving tariff hikes, it allows companies to plan for growth with a cleaner, more dependable energy mix.” – David McDonald, SolarAfrica CEO
Through initiatives such as SunCentral, SolarAfrica is looking to deliver real value to business in South Africa. Their mission is to create a cleaner energy future, while investing in the prosperity of communities through dependable power solutions.