Cape Town: Mulilo’s 219MWdc utility-scale solar PV project, with an export capacity of 150MWac, near Orkney in South Africa’s North West province has achieved financial close following the execution of an innovative power purchase agreement (PPA) with Etana Energy as the sole off-taker. The success of the project was made possible by Mulilo and a consortium of leading South African funding, legal and advisory partners, including Absa Bank, Standard Bank South Africa, Fasken, Arup, PepperTree Capital and ENS Africa, said the company in a press release.
Once operational, the Orkney project is expected to produce around 478GWh of renewable electricity annually, which will be wheeled to Etana’s customers via the national and municipal distribution networks. The supply will displace over 500,000 tons of CO₂ emissions per year, which is equivalent to removing around 140,000 internal combustion engine vehicles from the road. This is the second project that has achieved financial close between Etana Energy and Mulilo in 12 months and is testament to the strength and speed that can be achieved through partnership.
This milestone means Etana has now closed more than 500MW of renewable energy projects in the last 12 months, inclusive of the previously announced 105MW Du Plessis Dam Solar PV2 project and the 100 MW Zen and 94MW Bergrivier wind farms. The rapid scaling of Etana’s generation portfolio is evidence of the high customer demand for its flexible, reliable and cost-competitive energy supply solutions. Etana is also already actively wheeling electricity to Growthpoint premises across South Africa from the 5MW Boston hydroelectric plant in the Free State, which reached commercial operations in October 2025.
Jay Govender, Etana Energy’s Chief Commercial and Legal Officer said, “This project marks another significant step in Etana Energy’s growth, with the Orkney solar plant being more than double the size of our first solar project under construction with Mulilo. The speed at which this project has reached financial close demonstrates the strength of our partnership with Mulilo, the bankability of our respective structures, and the accelerating demand from customers for reliable, large-scale renewable electricity delivered through Etana’s platform.”
“The financial close of the Orkney Solar PV project makes an important milestone in advancing Mulilo’s commitment to strengthening South Africa’s energy security. This achievement reflects the strength of our partnerships, the capabilities of our team, and the growing role of private-sector generation in solving South Africa’s energy challenges. We are honoured to work with Etana Energy and our partners to deliver clean, reliable power and lasting economic value to the North West Province and beyond,” said Jan Fourie, Chief Executive Officer of Mulilo.
