- Mulilo has reached financial closure of its 77 MW battery storage project in South Africa, paving the way for construction
- This facility will help improve grid stability and support the integration of renewable energy into the power system
- South African banks are funding the project as the country expands investment in energy storage infrastructure
Independent power producer Mulilo has reached financial close on its Hartbeesfontein Battery Energy Storage System (BESS), a 77-megawatt (MW), 308-megawatt-hour (MWh) storage facility near Klerksdorp in South Africa's North West province, the company said in a statement published on Thursday, June 11.
This milestone paves the way for the implementation of one of the battery storage projects selected as part of efforts to strengthen the stability of the country's electricity grid.
The facility, awarded under the second bid round of the Battery Energy Storage Independent Power Producer Procurement Program (BESIPPPP), will provide support services to the National Transmission Company of South Africa (NTCSA) under a 15-year power purchase agreement.
“As our fifth project to reach financial closure in 2026, it reflects the hard work, expertise and commitment of the Mulilo team together with our valued partner Retail Group and stakeholders.” said Jan Fourie, chief executive officer of Mulilo.
Local financial support to accelerate energy storage
The project is being funded by South African banks Absa, Standard Bank and Nedbank, reflecting growing investment in energy storage as the country works to strengthen its power infrastructure.
The statement did not disclose the value of the financing package or the expected commissioning date of the project.
To modernize its electricity system and integrate more renewable energy, South Africa launched BESIPPPP to develop storage capacity capable of supporting grid stability. This pace is expected to accelerate in the coming months, with many more projects nearing completion.
Abdallah Diop