Mulilo has secured financial close for the $240 million 219-megawatts (MW) Orkney Solar Plant in South Africa. The milestone unlocks full construction of the utility-scale solar photovoltaic project and strengthens private-sector electricity supply. Contractors have already begun mobilizing on site following the completion of financing arrangements.

Financial close was achieved through a combination of equity and debt financing. Mulilo led the development, backed by Copenhagen Infrastructure Partners and development finance support from Norfund. A consortium of banks and advisors guided the transaction, while legal teams ensured all regulatory and contractual requirements were met. Technical advisors verified engineering design and operational risk, while capital markets partners structured the financing to align with projected revenues. The sponsors and advisors collectively ensured the project met commercial, technical, and environmental standards.

$240m Orkney Solar Plant to Boost Energy Security

The Orkney Solar Plant will generate 219MW of clean electricity, supplying commercial and industrial customers under long-term agreements. Moreover, the project is expected to reduce pressure on the national grid while advancing South Africa’s energy transition.

Mulilo developed the plant in partnership with Etana Energy, which aggregates renewable power for multiple corporate offtakers. Construction will connect the plant to Eskom’s transmission network in North West province, enhancing grid stability and diversifying energy sources.

The Orkney Solar Plant’s financial close highlights growing private investment in South Africa’s renewable sector. Alongside this project reported in 2023, Mainstream Renewable Power Initiates Construction of Solar Farm in Free State, South Africa. A 98 MW project supplying commercial clients under long-term agreements. These projects collectively demonstrate the country’s expanding utility-scale solar capacity and the increasing role of private power procurement in Southern Africa.

Construction Progress and Timeline

Following financial close, construction commenced immediately with site preparation and civil works. Furthermore, installation of mounting structures, photovoltaic modules, inverters, and balance-of-plant systems is underway.

The project is expected to reach commercial operation within the planned schedule.  Hundreds of temporary construction jobs are being created, while permanent positions will support plant operation and maintenance. Also, strict health, safety, and environmental protocols are being enforced throughout the construction phase.

Regional Significance

The Orkney Solar Plant is a notable private renewable energy project in Africa, delivering clean power outside the traditional utility procurement model. Etana Energy acts as the contracted offtaker, supplying electricity to commercial and industrial clients under a private Power Purchase Agreement (PPA).

The project not only demonstrates growing investor confidence in bankable renewable assets but also reinforces South Africa’s position as a leading market for private renewable power. Furtherly, it contributes significantly to the country’s decarbonization goals and energy diversification.

Project Fact Sheet: $240m Orkney Solar Plant

• Project Name: Orkney Solar Plant
• Total Investment: Approximately $240 million
• Capacity: 219MW (Solar PV)
• Location: North West Province, South Africa
• Developer & Sponsor: Mulilo
• Institutional Sponsor: Copenhagen Infrastructure Partners and Norfund
• Energy Trading Partner: Etana Energy
• Grid Connection: Eskom transmission network
• Status: Financial close achieved; construction underway
• Sector: Renewable energy infrastructure

Project Team

• Project Developer & Sponsor: Mulilo
• Institutional Sponsors: Copenhagen Infrastructure Partners (CIP), Norfund
• Energy Off-take & Trading Partner: Etana Energy
• Lenders & Financial Advisors: Absa Bank, Standard Bank
• Legal Counsel: Fasken, ENS Africa
• Technical Advisor / Engineering Oversight: Arup
• Capital Markets & Advisory Partner: PepperTree Capital
• Grid Operator: Eskom