Mulilo has achieved financial close on its 337 MW Middlepunt Solar PV project. This has marked its second solar project closure this year and a significant milestone for South Africa’s renewable energy sector.

The Middlepunt facility is located near Welkom in the Free State Province. The facility will have a contracted export capacity of 240 MWAC. Additionally, it is the first project under the government’s Renewable Energy Independent Power Producers Procurement Programme Bid Window 7 to achieve financial close.

Capacity

Once the plant is fully operational, it is expected to generate approximately 770 GWh of clean electricity a year. Also, it will connect to the Everest Main Transmission Substation. Also, this will support efficient integration into the national grid. Furthermore, the project is expected to offset approximately 813,000 tonnes of carbon emissions each year and supply power to roughly 325,000 households. Also, it will contribute to the nation’s clean energy goals along others such as the Springbok Solar Farm.

Power Pricing

Additionally, electricity that will be generated from the project will be delivered at a tariff of ZAR 458/MWh (about USD 27/MWh). This will position it among the lowest-cost renewable energy sources globally. Furthermore, a 20-year Power Purchase Agreement has been signed with the National Transmission Company of South Africa.

Furthermore, the project reasonates with Mulilo’s goal of adding 1 GW of capacity annually across solar, wind, and battery storage. Also, key stakeholders include the Department of Electricity and Energy, Eskom, and the Independent Power Producer Office, alongside major financial and advisory partners.

Furthermore, Jan Fourie, CEO of Mulilo, stated: “Financial close of the Middlepunt Solar PV project marks a major achievement for South Africa’s renewable energy programme under Bid Window 7. Also, reaching this milestone required immense effort and collaboration from a wide range of stakeholders across government, industry, and our financial, legal and technical partners. We are deeply grateful to all who contributed to making this project a reality.”

Project Factsheet

Project Name: Middlepunt Solar PV

Location: 15 km east of Welkom, Matjhabeng Local Municipality, Free State Province, South Africa

Technology: Solar Photovoltaic (PV)

Status: Financial Close reached (April 2026); transitioning to construction phase.

Developer: Mulilo Energy

Total Capacity: 337 MW (DC)

Contracted Export Capacity: 240 MW (AC)

Annual Energy Output: Approximately 770 GWh of clean electricity.

Grid Connection: Everest Main Transmission Substation.

PPA Duration: 20-year Power Purchase Agreement (PPA) with the National Transmission Company of South Africa (NTCSA).

Total Investment: Approximately R4.4 billion.

Energy Tariff: ZAR 458 per MWh (approx. $27/MWh), ranking it among the lowest-cost renewable energy solutions globally.

Lead Debt Arrangers: Standard Bank, Absa, and Nedbank.

Household Powering: Capable of supplying electricity to approximately 325,000 households.

Carbon Offset: Expected to avoid 813,000 tonnes of CO2 emissions annually.

Local Economy: Stimulates economic activity in the Matjhabeng region through job creation during construction. Also, it will bring procurement opportunities for local small and medium enterprises (SMEs).