Renewable energy platform Lyra Energy has signed power purchase agreements with three commercial and industrial offtakers covering a significant share of its 255MW solar PV project in Thakadu, South Africa.
Lyra Energy is a joint venture between Norwegian independent power producer (IPP) Scatec, Standard Bank, and Stanlib, with Scatec holding a 50% stake. The projects will see Scatec deliver engineering, procurement and construction (EPC), asset management, and operations & maintenance (O&M) services.
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The 255MW Thakadu solar plant will be developed in two phases, with phase one financial close and construction slated for Q1 2026 and phase two later in 2026. Capex, financing, and EPC details will be confirmed at financial close.
“The announcement of Lyra Energy’s first solar plant in South Africa is a milestone for this trading platform. Securing offtake agreements with private sector customers for the Thakadu project demonstrates the growing appetite amongst businesses for reliable, cost-effective clean power. Our aggregator model is making renewable energy more accessible,” said Scatec CEO Terje Pilskog.
Founded in 2024 and based in Cape Town, Lyra Energy develops utility-scale solar projects for commercial and industrial clients through an aggregator model. Its parent company, Scatec, operates over 730MW of solar in South Africa and specialises in solar and battery storage, including flagship projects like the Kenhardt hybrid facility.
