* By combining utility-scale renewable generation with a more flexible delivery via wheeling, SolarAfrica is helping companies access greener energy without the upfront capital outlay traditionally associated with on-site solar systems

JOHANNESBURG, South Africa -

* SolarAfrica reaches financial close on SunCentral 2, unlocking the next 114 MW of its utility solar development that will have a total 1 GW at full scale.

* The R1.5 billion investment, provided by FirstRand Bank Limited (acting through its Rand Merchant Bank division) and Investec Bank Limited (acting through its Corporate and Institutional Banking Division), fast-tracks the delivery of reliable, cost-effective clean energy to SA businesses, with first power expected in 2026.

* The project strengthens the national grid through continued investment in SunCentral's Main Transmission Substation.

SolarAfrica (https://SolarAfrica.com) has secured financial close on R1.5 billion to build SunCentral 2, the next 114 MW plant of its flagship utility-scale solar development in the Northern Cape. The new funding, provided by RMB and Investec Bank Limited, is another significant step in boosting access to affordable and clean energy for South African businesses, with first power expected in 2026.

SunCentral 2 will follow SunCentral 1, which reached financial close at the end of 2024, also at 114 MW. Together with SunCentral 3, these projects form Phase 1 of the broader SunCentral vision, totalling 342 MW. At full scale, SunCentral is planned to reach 1 GW, positioning it as one of the country's largest solar initiatives designed specifically for one-to-many, bilateral wheeling.

David McDonald, CEO at SolarAfrica, says: "Businesses want power they can trust - clean, affordable and predictable - and SunCentral is being built exactly for that purpose. It's encouraging to see the confidence from our funding partners as we move into the next stage of delivery.

"More than a big solar project, SunCentral is a long-term infrastructure investment that gives companies the ability to manage their costs, cut emissions, and reduce their reliance on utility power that is often vulnerable to unpredictable tariff hikes. This next step gets us closer to bringing that value to even more South African businesses."

As with the first plant, SunCentral 2 includes dedicated community-upliftment initiatives, ensuring local residents share in the social and economic benefits created by the project. Job creation, education, local procurement and skills development will continue to form a core part of the programme, supporting economic activity around the site in partnership with the project's principal contractors.

SunCentral is also a key pillar of SolarAfrica's overall wheeling pipeline - totalling 3 GW - which is currently under development across the country. By combining utility-scale renewable generation with a more flexible delivery via wheeling, SolarAfrica is helping companies access greener energy without the upfront capital outlay traditionally associated with on-site solar systems.

A portion of funding from each SunCentral plant is allocated directly to the development of the project's Main Transmission Substation (MTS). Engineered for up to 2 GW of green-power evacuation capacity, the MTS strengthens the national grid while enabling future renewable generation to connect more efficiently.

"With wheeling, we have a model that puts control back into the hands of commercial and industrial customers. Instead of just surviving tariff hikes, it allows companies to plan for growth with a cleaner, more dependable energy mix," says McDonald.

Distributed by APO Group on behalf of SolarAfrica.

About SolarAfrica:

Founded in 2011, SolarAfrica provides a suite of capex-free green energy solutions to the commercial and industrial sectors in Southern Africa. The holistic suite includes on-site solutions such as solar energy and battery storage together with virtual solutions like wheeling, trading and aggregation.

SolarAfrica partners with businesses in South Africa seeking an energy solution that provides power security, cost savings and carbon reduction - building towards long-term sustainability.

The company has evolved into an ambitious team who are passionate about what they do and the core values they uphold. SolarAfrica has been named the continent's leading solar energy firm twice, scooping the Africa Solar Industry Association's African Solar Company of the Year award in 2021 and 2023.