Independent power producer Mulilo has reached financial close on its 219 MW Orkney Solar PV facility in South Africa’s North West Province, securing debt and equity financing that includes R1 billion from Norfund and R7 billion from Standard Bank, alongside investments from other international partners.
Once operational, the Orkney facility is expected to generate approximately 478 GWh of electricity per annum, supplying power to an estimated 210,000 households under a power purchase agreement with electricity trading platform Etana Energy. The project also involves construction of a 24-kilometre transmission line, and 150 MW of its capacity will be exported to regional markets, reinforcing South Africa’s ambition to become a regional energy hub.
The financial close follows a period of sustained momentum in South Africa’s renewable energy rollout. The country has recorded over 266 consecutive days without load shedding and has 6.5 GW of renewable capacity in commercial operation as of December 2025 under the Renewable Energy Independent Power Producer Programme (REIPPP). Since 2024, South Africa has secured more than $20 billion in renewable energy and energy transition financing from international partners, including $1 billion from the World Bank, $474.6 million from the African Development Bank and an €11.5 billion investment package from the European Union.
Mulilo currently operates 420 MW of wind and solar assets with an additional 764 MW under construction, and plans to deploy up to 1 GW of new renewable energy capacity per annum. The Orkney project is the second to be completed through its partnership with Etana Energy, following the 75MWAC Du Plessis Dam Solar PV2 project that commenced construction last year.
President Cyril Ramaphosa, speaking during his 2026 State of the Nation Address, underscored the importance of these developments: “Now, with the far-reaching changes we are making to the sector and with our abundant solar and wind resources, we will be able to drive down the cost of electricity.” He also announced that the energy sector would be a strategic priority within South Africa’s R1 trillion public infrastructure investment plan over the next three years.
Source: energycapitalpower.com