- Mahlako Energy concludes investment in an IPP’s solar photovoltaic portfolio.
- The project is among the first to be developed following the changes to the country’s electricity regulation act.
Mahlako Energy Fund has announced its investment conclusion with an industrial independent power generation project for Harmony Gold Mining. The project comprised the development of a 30 MW solar photovoltaic (PV) portfolio.
According to the announcement, this project is among the first projects to be developed following changes to Schedule 2 of the Electricity Regulation Act. The amended regulations allow investment in a new generation capacity of up to 100 MW without requiring a generation licence.
The investment facilitates one of South Africa’s largest solar PV plants and the most extensive power purchase agreement (PPA) for commercial and industrial private offtake to date. Mahlako says it advances its vision of progressing the just transition and transformation of the country’s energy sector.
The construction phase is anticipated to start this month, with the first energy delivered onto the grid in March 2023. The project is expected to produce 1.3TWh of energy over the 20-year lifespan of the facilities.