Mulilo reaches financial close on 380MW Beaufort West solar project

Mulilo has officially reached financial close on the 380MW Beaufort West Solar PV facility, a milestone that propels the company past its ambitious goal of deploying 1GW of renewable energy annually.

The project, located in the Western Cape, marks Mulilo’s fourth successful financial close in 2026 alone, following previous closures in the North West and Free State provinces.

The project was made possible with backing from shareholders Copenhagen Infrastructure Partners (CIP) and Norfund.

The financial close involved a heavy-hitting consortium of South African banks and advisors, including Absa, Standard Bank, Investec, and Nedbank, alongside legal and technical partners such as Bowmans, Fasken, and Arup.

“By delivering reliable, clean power at scale, we are not only addressing the country’s immediate energy needs but also paving the way for a sustainable and prosperous future,” said Mulilo CEO Jan Fourie.

Read: How renewable energy is revolutionising SA’s power grid

Scaling up the national grid

The Beaufort West facility is one of South Africa’s largest utility-scale solar developments, featuring an installed capacity of 380MW and a contracted export capacity of 250MW. By connecting to the Droërivier main transmission substation, the project ensures efficient integration into the national grid.

This latest development brings Mulilo’s total portfolio, spanning both operational and construction phases, to over 2GW. Fourie noted that the project is the company’s first renewable energy venture in the Western Cape, calling it a “testament to Mulilo’s unwavering commitment to driving South Africa’s energy transition”.

Read: Norfund invests R1.3bn in South Africa’s Mulilo

Powering 345 000 households

Once operational, the facility is expected to have a significant environmental and social footprint:

•  Annual generation: The plant is projected to produce approximately 818GWh of clean electricity every year.
• Household impact: The energy generated will be enough to power an estimated 345 000 South African households annually.
• Carbon offset: The project is estimated to avoid roughly 860 000 tonnes of CO₂ emissions per year.

The electricity will be sold to commercial and industrial customers through a multi-year Power Purchase Agreement (PPA) with NOA.

Karel Cornelissen, group CEO at NOA, stated that the transaction brings NOA’s diversified portfolio to nearly 1.5GW of generation capacity across its owned assets and partnerships.

“Mulilo is a partner with a proven ability to deliver high-quality renewable projects, and this financial close reflects the strength of our collaboration and shared ambition,” said Cornelissen.

Read: Mulilo now leads utility-scale battery projects in SA