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Independent power producer (IPP) NOA Group has reached financial close on a 349MW solar PV project in South Africa.
Dubbed by the company as “the country’s largest,” the solar PV project is part of a larger single-asset solar PV facility with a combined capacity of 506MW. The project is expected to be completed by the fourth quarter of 2026, while the other solar PV plant, Khauta West, is expected to be operational in 2027. The solar facility will be located in Welkom in the Free State province of South Africa.
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The company acquired the Khauta South plant from German renewable energy developer Pure New Energy (PNE) in 2024 and broke ground earlier this year.
Power generated from the Khauta project will be distributed through state utility Eskom’s grid to a diverse group of companies, with one of the confirmed off-takers being real estate investment trust Redefine Properties.
The financial close includes a payment guarantee facility provided by financial entity Standard Bank on behalf of NOA Trading. This facility serves as a financial enabler, allowing NOA to unlock equity capital and speed up the development of more renewable energy projects – all while continuing to meet its obligations under existing Generator Power Purchase Agreements (GPPAs).
“The guarantee facility enables us to deploy equity more efficiently, ensuring the rapid rollout of projects while supporting liquidity across our development pipeline. It also strengthens our position as a credible aggregator in energy supply agreements with commercial and industrial off-takers,” said Karel Cornelissen, CEO of NOA.
Additionally, the Bellville, South Africa-headquartered firm is amping capacity by adding energy storage at the facility.
“While grid bottlenecks persist, we’re investing in Battery Energy Storage Systems (BESS) to enable better load-shifting and maximise the export of clean energy from our assets,” Cornelissen added.
Read Next
In May 2025, utility-scale and rooftop solar PV dipped by 579GWh month-on-month in Australia’s National Electricity Market (NEM) to 2,861GWh.
Tasmania’s George Town council approved plans for a 288MW solar PV power plant this week, which is being pursued in Australia by German renewable energy developer ib vogt.
Solar PV additions have slowed down in the first quarter of 2025 in India, with 6.7GW, according to a report from Mercom India Research.
The three projects, Mammoth South, Mammoth Central I, and Mammoth Central II, have a generation capacity of 300 MW each.
Australia’s Victoria government has proposed seven REZ for the state, emphasising these will help achieve its target of 2.7GW of utility-scale solar PV generation by 2040.
AEMO has found that grid-scale solar PV generation achieved an all-time high in Q1 2025, reaching 2,386MW, a 10% year-on-year (YoY) increase.
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This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Copyright © 2025. All rights reserved. Informa Markets, a trading division of Informa PLC.
Latest
Features, Editors’ Blog, Long Reads
Independent power producer (IPP) NOA Group has reached financial close on a 349MW solar PV project in South Africa.
Dubbed by the company as “the country’s largest,” the solar PV project is part of a larger single-asset solar PV facility with a combined capacity of 506MW. The project is expected to be completed by the fourth quarter of 2026, while the other solar PV plant, Khauta West, is expected to be operational in 2027. The solar facility will be located in Welkom in the Free State province of South Africa.
This article requires Premium SubscriptionBasic (FREE) Subscription
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
The company acquired the Khauta South plant from German renewable energy developer Pure New Energy (PNE) in 2024 and broke ground earlier this year.
Power generated from the Khauta project will be distributed through state utility Eskom’s grid to a diverse group of companies, with one of the confirmed off-takers being real estate investment trust Redefine Properties.
The financial close includes a payment guarantee facility provided by financial entity Standard Bank on behalf of NOA Trading. This facility serves as a financial enabler, allowing NOA to unlock equity capital and speed up the development of more renewable energy projects – all while continuing to meet its obligations under existing Generator Power Purchase Agreements (GPPAs).
“The guarantee facility enables us to deploy equity more efficiently, ensuring the rapid rollout of projects while supporting liquidity across our development pipeline. It also strengthens our position as a credible aggregator in energy supply agreements with commercial and industrial off-takers,” said Karel Cornelissen, CEO of NOA.
Additionally, the Bellville, South Africa-headquartered firm is amping capacity by adding energy storage at the facility.
“While grid bottlenecks persist, we’re investing in Battery Energy Storage Systems (BESS) to enable better load-shifting and maximise the export of clean energy from our assets,” Cornelissen added.
Read Next
In May 2025, utility-scale and rooftop solar PV dipped by 579GWh month-on-month in Australia’s National Electricity Market (NEM) to 2,861GWh.
Tasmania’s George Town council approved plans for a 288MW solar PV power plant this week, which is being pursued in Australia by German renewable energy developer ib vogt.
Solar PV additions have slowed down in the first quarter of 2025 in India, with 6.7GW, according to a report from Mercom India Research.
The three projects, Mammoth South, Mammoth Central I, and Mammoth Central II, have a generation capacity of 300 MW each.
Australia’s Victoria government has proposed seven REZ for the state, emphasising these will help achieve its target of 2.7GW of utility-scale solar PV generation by 2040.
AEMO has found that grid-scale solar PV generation achieved an all-time high in Q1 2025, reaching 2,386MW, a 10% year-on-year (YoY) increase.
Subscribe to Newsletter
Most Read
Upcoming Events
PV Tech is part of the Informa Markets Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Copyright © 2025. All rights reserved. Informa Markets, a trading division of Informa PLC.
