Page 18 - Energize October 2022

NEWS

Two 100 MW solar power projects in

South Africa reach financial close

ogan Lovells, a leading global a welcome change as prior to this the license-free registration of a private project
legal practice providing was capped at 1 MW. The South African government has since announced that these
Hbusiness-oriented legal regulations will be further relaxed to remove any capacity cap on the licence-free
advice, has advised SOLA Group, a registration of private power projects. In this regard, the Department of Mineral
leading renewable energy solutions Resources and Energy (DMRE) gazetted a proposed amendment to the ERA on 2
provider in South Africa, on the September 2022. The Licensing Exemption and Registration Notice is currently open
corporate aspects of its two 100 for public comment. Interested persons are invited to comment before 1 October
MW solar PV projects in South 2022.
Africa. These projects will generate
power for Tronox Mineral Sands’ About SOLA Group
operations at five facilities in South The SOLA Group is a vertically integrated Independent Power Producer and a leader
Africa and are, to date, amongst the in the supply of clean energy solutions to private companies in Africa. SOLA’s mission
largest private energy generation is to transform Africa through clean energy. The group consists of two unique and
projects (and first 100 MW projects) complementary businesses. SOLA Assets started in 2008 as Aurora Power Solutions,
registered by the National Energy a utility-scale solar project developer. Its sister company, SOLA Build, started in 2013
Regulator of South Africa (Nersa). as SOLA Future Energy, an EPC concentrating on private-sector PV opportunities.
The projects reached financial close Together, SOLA Build has built over 100 MW of embedded-generation solar PV
on Friday, 9 September 2022, and are projects, mostly for the private sector, and SOLA Assets has developed over 1000
expected to be constructed over a MW solar PV projects in Africa, making it one of the largest solar companies in South
period of about 14 months. Africa.
Commenting on this, partner at Together, the SOLA Group offers all stages of solar PV implementation: from
Hogan Lovells, Chris Green, says: “We project development and financing, design, procurement and construction, to the
are delighted to have been involved operations and maintenance of solar PV facilities.
in this significant energy deal in
the South African market. Private Contact SOLA Group, Phone 021 421 9764, 010 597 3538, 072 444 4216,
power projects of this nature are info@solagroup.co.za, https://solagroup.co.za
key contributors to addressing South
Africa’s ongoing energy crisis and
ensuring a secure and reliable energy
supply to South African industries,
businesses and consumers alike.
We would like to congratulate all
parties involved in this transaction,
particularly our client, SOLA Group”.
The registration of the projects
in May follows the 2021 changes to
the regulations promulgated under
the national Electricity Regulation
Act, 2006 (ERA), which permit private
energy generation of up to 100 MW
to proceed without a license (the
projects must still be registered
with Nersa). This was, at the time,

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