Fasken is proud to have advised the Lenders on the financial close of two registered 100 MW energy projects. The first two 100 MW energy projects to be registered in South Africa.
This is following the regulatory change in August 2021 to raise the licensing limit for distributed generation projects from 1 MW to 100 MW.
SOLA Group shared in a statement that “The project is the largest private PPA of its kind of Africa and the first batch of 100MW projects under the new South African legislation. It took some innovative legal structuring to fit within the requirements of a typical project finance structure.”
These renewable energy facilities will supply electricity, through wheeling arrangements with State-owned utility Eskom, to five Tronox facilities in the Western Cape and KwaZulu-Natal for their own use.
The Fasken team led by Lara Bezuidenhoudt and Craig Whitley included Ashen Jugoo, Nathisha Maharaj and Michal Asoulin.
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