MechChem Africa November-December 2024

Mainstream to provide flexible PPAs to private customers Mainstream Renewable Power (Mainstream), the pureplay global wind and solar company, has reached financial close on its 50 MW Ilikwa solar PV plant, which will produce power to supply multiple private commercial and industrial customers under flexible, shorter-term Power Purchase Agreements (PPAs).

I n a new-to-market product called Renew able Energy Supply Agreements (RESAs), Mainstream Renewable Power is set to open up the energy market in South Africa by giving a wider range of businesses access to affordable, reliable and renewable power through shorter-term energy contracts of between five and 10 years. Commenting at an event to announce financial close on the 50 MW Ilikwa solar PV plant, Mainstream’s General Manager for Africa, Hein Reyneke says: “We are excited to bring this new product to mar ket, which offers customers the oppor tunity to secure flexible, clean and lower cost electricity. With a 12 GW portfolio, Mainstream has one of the largest and most advanced pipelines of projects in the country. Importantly, we have a further 180 MW of projects ready for construc tion in 2025 and we encourage businesses to take advantage of the benefits this new product offers.” Investec is a project Mainstream’s General Manager for Africa, Hein Reyneke.

powering the equivalent of more than 42 000 homes and avoiding the annual emissions of approximately 100 000 t of CO 2 . Mainstream Renewable Power is a leading pure-play renewable energy com pany, with wind and solar assets across global markets, including in Europe, Latin America, Africa, and Asia-Pacific. The company is one of the most successful developers of gigawatt-scale renewables platforms, across onshore wind, offshore wind and solar power generation. It has successfully delivered 6.6 GW of wind and solar generation assets to financial close and has a global pipeline of 24.8 GW, with 1.0 GW in operation. In South Africa, Mainstream has de veloped and delivered into construction 10 wind and solar plants with a combined capacity of almost 1.0 GW. The company has raised more than €3.0-billion in proj ect finance to date and has a presence across five continents. www.mainstreamrp.com

partner, providing pre-construction devel opment finance as well as debt and equity finance for the construction of the Ilikwa plant. Commenting for Investec, Martin Meyer, Head of Energy and Infrastructure Finance said: “We are proud to have part nered with Mainstream in this ground breaking initiative that enhances energy access for businesses in South Africa and aligns with our commitment to sustainable development and the reduction of carbon emissions. Investec was able to implement bespoke funding solutions to enable the project to reach financial close.” Mainstream has a 70% equity stake in the project and Investec has a 30% equity stake. Construction of the Ilikwa solar PV plant, located in the Free State province, has already commenced, and is expected to reach commercial operation in early 2026. This is the second solar plant with private PPAs that Mainstream has taken to financial close in South Africa within the last year. When fully operational, it will produce 141 GWh of electricity per year,

De Aar Solar Farm, a solar asset developed and constructed by Mainstream Renewable Power in South Africa. Globally, Mainstream Renewable Power has delivered 6.6 GW of wind and solar generation to financial close and has a pipeline of 24.8 GW.

34 ¦ MechChem Africa • November-December 2024