South African Renewable Energy Company, SolarAfrica Raises $94m Funding

Renewable energy provider SolarAfrica raises $94 million to expand delivery across South Africa

SolarAfrica, a Pretoria-based renewable energy provider, has raised R1.5 billion ($94 million) to build SunCentral 2, the next 114 MW phase of its utility-scale solar project in South Africa’s Northern Cape. The funding will support the delivery of affordable power to commercial and industrial customers, beginning in 2026. The raise was provided by Rand Merchant Bank (RMB) and Investec Bank Limited, both of which also backed SunCentral 1, the fi…

SolarAfrica Raises $94m for 114MW Solar Plant in South Africa - Innovation Village | Technology, Product Reviews, Business

South African renewable energy company SolarAfrica has raised $94 million in debt funding to develop a large-scale solar power project in the country’s Northern Cape, as private players step in to address persistent grid instability and energy shortages. The funding will be used to build SunCentral 2, a 114-megawatt (MW) solar plant designed to supply electricity to industrial and commercial customers through South Africa’s national grid. Once c…

South African renewable energy company, SolarAfrica raises $94m funding

South African renewable energy company SolarAfrica has raised $94 million in debt funding to build a large solar plant in the Northern Cape. The project, SunCentral 2, will produce 114 MW of electricity, enough to supply industrial businesses across the region and ease reliance on the country’s notoriously unstable grid. Unlike traditional rooftop solar, SolarAfrica intends to supply power directly to the national grid, providing electricity thr…

SolarAfrica raises $94m for 114MW SunCentral 2 solar project

SolarAfrica has secured R1.5bn ($93.9m) in financing to advance its 114MW plant SunCentral 2 solar project in the Northern Cape, South Africa.