- The South African solar project facility is anticipated to produce more than 600 GWh of power once it operates.
Magnora ASA, a Norwegian renewable energy investor, has announced that it has received environmental permission to deploy a 260 MW solar project in South Africa.
The facility is anticipated to produce more than 600 GWh of power yearly. According to Magnora, the concept makes it possible to build a co-located battery energy storage complex.
In February 2021, Norway-based Magnora entered the South African renewable energy market after acquiring an 850 MW project portfolio. A year later, it acquired 92% of African Green Ventures (AGV), a South African company that develops solar and onshore wind projects, and is now bringing greenfield projects up to the ready-to-bid/build stage. There are now over 1.8 GW of active development projects in the pipeline in the nation.
“We are very pleased with our development in South Africa and see great interest from potential buyers in the market for mature projects,” said CEO Rik Sneve. He added the Oslo-based company expects to have projects ready for divestment by the end of this year.