EDF Renewables and Perpetua Holdings have reached Legal Close for the Umoyilanga hybrid renewable power project in South Africa, combining solar, wind, and battery storage systems.

Target Information

EDF Renewables has officially reached Legal Close on the Umoyilanga Project as of August 30, 2023. This milestone was marked by the signing of a Power Purchase Agreement (PPA) with Eskom and an Implementation Agreement (IA) with the Department of Mineral Resources and Energy, for a cutting-edge hybrid renewable energy facility set to be developed in South Africa. The consortium behind this project comprises EDF Renewables, a prominent international renewable energy supplier, and Perpetua Holdings (Pty) Ltd, a privately owned investment firm.

The Umoyilanga Project was secured after the consortium won a bid during the South African Government's Risk Mitigation Independent Power Producer Procurement Programme (RMI4P) in March 2021. Initial works have commenced, with Financial Close anticipated in the latter half of October 2023, leading to a construction phase starting immediately thereafter. The projected Commercial Operation Date (COD) for the project is set for May 2025.

Industry Overview in South Africa

The renewable energy sector in South Africa has seen substantial growth in recent years, transitioning from a reliance on fossil fuels towards more sustainable energy sources. Driven by both environmental concerns and economic incentives, the South African government has launched several initiati