NOA reaches financial close on 349MW solar PV project in South Africa

Facebook
Twitter
LinkedIn
Reddit
Email
The project is expected to be completed by the fourth quarter of 2026. Image: NOA Group
The Khauta West PV plant is expected to reach commercial operations by Q4 2026. Image: NOA Group

Independent power producer (IPP) NOA Group has reached financial close on a 349MW solar PV project in South Africa.

Dubbed by the company as “the country’s largest,” the solar PV project is part of a larger single-asset solar PV facility with a combined capacity of 506MW. The project is expected to be completed by the fourth quarter of 2026, while the other solar PV plant, Khauta West, is expected to be operational in 2027. The solar facility will be located in Welkom in the Free State province of South Africa.

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

The company acquired the Khauta South plant from German renewable energy developer Pure New Energy (PNE) in 2024 and broke ground earlier this year.

Power generated from the Khauta project will be distributed through state utility Eskom’s grid to a diverse group of companies, with one of the confirmed off-takers being real estate investment trust Redefine Properties.

The financial close includes a payment guarantee facility provided by financial entity Standard Bank on behalf of NOA Trading. This facility serves as a financial enabler, allowing NOA to unlock equity capital and speed up the development of more renewable energy projects – all while continuing to meet its obligations under existing Generator Power Purchase Agreements (GPPAs).

“The guarantee facility enables us to deploy equity more efficiently, ensuring the rapid rollout of projects while supporting liquidity across our development pipeline. It also strengthens our position as a credible aggregator in energy supply agreements with commercial and industrial off-takers,” said Karel Cornelissen, CEO of NOA.

Additionally, the Bellville, South Africa-headquartered firm is amping capacity by adding energy storage at the facility.

“While grid bottlenecks persist, we’re investing in Battery Energy Storage Systems (BESS) to enable better load-shifting and maximise the export of clean energy from our assets,” Cornelissen added.

Read Next

October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 6, 2025
Genesis Energy and FRV Australia have mutually agreed to terminate their solar development joint venture while maintaining co-ownership of the 63MWp Lauriston solar PV power plant in Canterbury, New Zealand.
Premium
October 2, 2025
Australia's solar sector delivered a strong September performance in the National Electricity Market (NEM) as the country entered spring, with combined solar PV generation reaching 3,933GWh - a 17.83% increase from August's 3,338GWh.
October 2, 2025
FRV Australia has announced the completion of its largest solar project to date, the 300MW Walla Walla Solar Farm in New South Wales.
September 29, 2025
Burns & McDonnell examines the outlook of the utility-scale solar sector amidst the latest policy and tariff changes.
Sponsored
September 29, 2025
Voltage Energy has launched two new wiring solutions, IBEX PLUS and new LYNX, for different current capacity ranges in utility-scale solar.

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