AMEA Power has executed a 25-year power purchase agreement (PPA) with GreenCo Power Services (Pty) Limited (GreenCo) for energy offtake from the 85 MW solar photovoltaic (PV) power plant in South Africa.
The 85 MW solar PV power plant will be located in the North West Province in South Africa, and is expected to achieve financial close and commence construction during the third quarter of 2023. The solar plant will start delivering power into the national grid in early 2025 and will generate around 220 GWh of clean energy per year. The construction of the project will be financed by Standard Bank of South Africa that is actively involved in financing green energy transition projects. AMEA Power, GreenCo and Standard Bank have also entered into a cooperation agreement that seeks to develop a fast-track model to stimulate the onboarding of renewable energy generation in South Africa.