DLA Piper has advised longstanding client, SolarAfrica Energy, on the ZAR2.2 billion debt and preference share financing, provided by two South African banks, for the development of phase one of its SunCentral photovoltaic plant and the construction and installation of its main transmission substation (MTS).
Phase one of the plant, which will generate 114 MW of solar power, will provide power on a one-to-many basis, meaning a wider pool of businesses can access cheaper, cleaner energy through Wheeling. This first phase of development forms part of its broader vision of establishing a utility-scale solar farm in the Northern Cape Province of South Africa and is expected to be operational in the first quarter of 2026.
SolarAfrica Energy is a leading African independent power producer with over a decade of experience in solar projects in Southern Africa.
The DLA Piper team was led by Nick Grootes, partner in the Johannesburg office’s Finance practice, who was supported by Finance partner Jackie Pennington, associates Malachizodok Mpolokeng, Hemlata Singh, Julia Hoffman and associate designate Marco Sequeira.
Nick Grootes commented: “This transaction marks a significant milestone in SolarAfrica Energy’s journey to provide sustainable and clean energy in South Africa. With phase one already in development, this project will support the country’s sustainability goals long into the future.”
DLA Piper has previously advised on the Pan-African Starsight Energy and SolarAfrica Energy merger, see here.
