Mainstream Renewable Power reaches financial close on 50 MW solar PV plant to provide new flexible PPAs to private customers in South Africa
- New PPA product gives businesses a better alternative for their electricitysupply
Mainstream Renewable Power ("Mainstream"), the pureplay global wind and solarcompany majority-owned by Aker Horizons ASA, has reached financial close onits50 MW Ilikwa solar PV plant. The power from the plant will supply multipleprivate commercial and industrial customers under flexible, shorter-term PowerPurchase Agreements (PPAs) in a new-to-market product called Renewable EnergySupply Agreements ("RESAs").
This new product opens up the energy market in South Africa by giving a widerrange of businesses access to affordable, reliable and renewable power throughshorter-term energy contracts of between five and 10 years.
Commenting on the announcement, Mainstream's General Manager for Africa, HeinReyneke said: "We are excited to bring this new product to market, offeringcustomers the opportunity to secure flexible, clean and lower-costelectricity.With a 12 GW portfolio, Mainstream has one of the largest and most advancedpipelines of projects in the country. Importantly, we have a further 180 MWofprojects ready for construction in 2025 and we encourage businesses to takeadvantage of the benefits this new product offers."
Investec is a project partner, providing pre-construction development financeaswell as debt and equity finance for the construction of the plant. Mainstreamhas 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 early2026. This is the second solar plant with private PPAs that Mainstream hastakento financial close in South Africa within the last year. When fullyoperational, it will produce 141 Gigawatt hours (GWh) of electricity per year,powering the equivalent of more than 42,000 homes and avoiding the annualrelease of approximately 100,000 tons of CO2.
Ends.
For further information, please contact:
Stian Andreassen, Investor Relations, Tel: +47 41 64 31 07,stian.andreassen@akerhorizons.com
Emmet Curley, Media, Mainstream Renewable Power, Tel: + 353 86 241 1690,emmet.curley@mainstreamrp.com
Mats Ektvedt, Media, Tel: +47 41 42 33 28,mats.ektvedt@corporatecommunications.no
About Aker Horizons
Aker Horizons develops green energy and green industry to accelerate thetransition to Net Zero. The company is active in renewable energy, carboncapture and hydrogen and develops industrial-scale decarbonization projects.Aspart of the Aker group, Aker Horizons applies industrial, technological andcapital markets expertise with a planet-positive purpose to drivedecarbonization globally. Aker Horizons is listed on the Oslo Stock Exchangeandheadquartered in Fornebu, Norway. Across its portfolio, the company is presenton five continents.
www.akerhorizons.com
About Mainstream Renewable Power
Mainstream Renewable Power is a leading pure-play renewable energy companywithwind and solar assets across Europe, Latin America, Africa, and Asia-Pacific.Mainstream is one of the most successful developers of gigawatt-scalerenewablesplatforms, across onshore wind, offshore wind, and solar power generation. Thecompany has successfully delivered 6.6 GW of wind and solar generation assetstofinancial close-ready and has a global project portfolio of over 23.8 GW. InSouth Africa, Mainstream has developed and delivered into construction tenwindand solar plants with a combined capacity of almost 1 GW.
www.mainstreamrp.com
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