SunEdison secures US$185 million funding for 60MW project in South Africa

Facebook
Twitter
LinkedIn
Reddit
Email

SunEdison has secured ZAR1.8 billion (US$185 million) in funding for a 60MW solar project in South Africa.

The 60MW ‘Boshof Solar Park’ located in Boshof, Free State, is part of the second window of bids for South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Boshof is the first REIPPPP project to use a South African majority-owned module manufacturer. 

The ZAR1.8 billion funding (US$185 million) was provided by the US government's Overseas Private Investment Corporation (OPIC), which is providing 75% of the ZAR2.4 billion project cost in foreign debt funding.

The project is to supply South Africa’s national grid under a 20-year power purchase agreement, signed by Eskom and the Department of Energy. The plant is scheduled to generate electricity by the last quarter of 2014.

The project will create 280 construction and operation jobs, and 1,000 indirect jobs through sub-contracts. Also funding of ZAR200 million (US$19.7 million) is to be used on community programmes.

SunEdison will retain 51% ownership of the plant, with South African companies retaining 49%.

“OPIC is pleased to be supporting a project that will provide a clean and reliable source of electricity and help stimulate economic development,” said OPIC president and CEO, Elizabeth Littlefield. “Access to a reliable source of energy is essential to addressing a wide range of development challenges from producing food to educating students and building modern infrastructure.”

Pashupathy Gopalan, SunEdison vice president and managing director for South Asia and Sub-Saharan Africa said Boshof Solar Park is “a landmark project which will benefit the entire South African economy as it contributes to energy security and creates green jobs throughout the value chain”.

Sundison also has 58MW of other solar projects that have started construction in South Africa and has also received funding from OPIC previously for projects in Chile.

Africa’s largest pension fund, the Government Employees Pension Fund's (GEPF) acting principal officer Joelene Moodley said GEPF is increasing its investment with SunEdison, viewing the Boshof project “as a secure investment for our members and pensioners”. GEPF has nearly doubled investment in SunEdison's South African projects, to ZAR312 million (US$30.8 million) for the Boshof Solar Park.

“We believe this a safe place for us to invest and the project is aligned with GEPF's mandate to back infrastructure projects that promote economic growth and job creation,” Moodley said.

Read Next

October 7, 2025
Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 7, 2025
US independent power producer (IPP) Arevon has begun operations at two utility-scale solar projects in Indiana.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK