The Oya project in South Africa, a 128 MW hybrid renewable energy initiative, successfully raised debt and equity funding to support its development, significantly enhancing the country’s sustainable energy landscape.

Target Information

The Oya project, situated in South Africa, is a pioneering hybrid energy initiative that encompasses a 128 MW capacity. This exceptional project integrates 86 MW of onshore wind turbines, 155 MWp of bi-facial solar photovoltaics, and a substantial 94MW/242MWh lithium-ion battery storage system. It is strategically located across the Western and Northern Cape provinces, utilizing a unique hybrid controller that ensures the provision of dispatchable baseload power during daytime hours. This project is recognized as one of the largest of its kind globally, aimed at bolstering South Africa’s transition to a renewable energy framework and alleviating the ongoing issues of power shortages.

The Oya project has a strong backing, having been awarded a 20-year Power Purchase Agreement (PPA) with Eskom as part of the Risk Mitigation Independent Power Producers Programme (RMIPPPP) in 2021. This endorsement emphasizes the project's significance in the national energy landscape, contributing to sustainability efforts while meeting increasing energy demands.

Industry Overview in South Africa

South Africa's energy sector is undergoing a substantial transformation, largely driven by the need to transition from fossil fuels towards renewable energy sources. The country's commitment to renewable technology adoption is visible through various governm