French Developer Gets Financing For 240MW Hybrid Renewable Project in South Africa - Africa’s premier report on the oil, gas and energy landscape.

French Developer Gets Financing For 240MW Hybrid Renewable Project in South Africa

By Toyin Akinosho, in Lagos

French independent power producer, Engie, has, together with its partners, made it to financial close for the Oya Energy project in the Western and Northern Cape Provinces of South Africa.

The hybrid renewable energy project involves the construction of a 155 MWp solar photovoltaic park and an 86 MW wind farm on the same site. The output of both power plants will be supported by a 92 MW/242 MWh battery storage system.

Oya is being developed under the South African government’s Independent Power Producers’ Risk Mitigation Procurement Program (RMIPPPP).

The facility is expected to be up and running by December 2025.

Engie owns 35% of the project, with partners including ’s partners including Meadows Energy (22.5%) Perpetua Investment Holdings (22.5%) and G7 Renewable Energies (20%).

The electricity produced will be fed into the grid of the state-owned utility Eskom, under a 20-year power purchase agreement (PPA) signed in 2023 and an Implementation Agreement with the Department of Mineral Resources and Energy in South Africa. Once operational, the Oya Energy Hybrid Project will provide essential dispatchable energy to the South African grid.. According to estimates,

“This project represents the blueprint of a carbon neutral, 100% renewable future power grid – dominated by solar PV, supplemented by large amounts of wind power and storage capacity for balancing surpluses and shortfalls to provide all the power our economy needs without resorting to any fossil fuels”, declares Kilian Hagemann, CEO of G7.

“It’s the first time that renewables are providing baseload power.”

The Oya Energy hybrid plant will be able to avoid emissions of 573,105 carbon dioxide equivalents (CO2) per year. It will be capable of powering 180,000 South African homes.

 

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