Mainstream Renewable Power Secures Financial Close for 50MW Ilikwa Solar Plant in South Africa
Mainstream Renewable Power has officially reached financial close on its 50MW Ilikwa solar plant in South Africa, a game-changing development set to energize businesses with affordable, clean energy. The Ilikwa plant will supply multiple commercial and industrial customers through flexible, shorter-term power purchase agreements (PPAs) under an innovative new product called Renewable Energy Supply Agreements (RESAs). This breakthrough offers businesses more control by providing contracts between 5 and 10 years, allowing them to lock in sustainable energy solutions without long-term commitments.
Hein Reyneke, Mainstream’s General Manager for Africa, shared the company’s enthusiasm:
“We are excited to bring this new product to market, offering customers the opportunity to secure flexible, clean, and lower-cost electricity.”With a 12GW project portfolio, Mainstream is solidifying its leadership in South Africa’s renewable energy landscape. 180MW of new projects are also set to begin construction in 2025, giving even more businesses the chance to switch to sustainable power.Investec plays a vital role in the Ilikwa project, providing development, debt, and equity finance. Mainstream holds a 70% equity stake, with Investec taking a 30% share. The Ilikwa solar PV plant, located in Free State province, is already under construction and is expected to become operational by early 2026. This milestone marks Mainstream’s second successful private PPA-based solar plant within the past year, showcasing the company’s commitment to empowering businesses with clean energy solutions. #RenewableEnergy #SolarPower #GreenEnergy #SouthAfrica #MainstreamRenewable #EnergyInnovation #SustainableBusiness #CleanEnergyFuture #FlexibleEnergy #SolarEnergySolutions #CommercialPPAs #IlikwaSolar #InvestecPartnership
