This milestone represents a defining moment for Mulilo and the broader renewable energy sector, made possible by the coordinated efforts of stakeholders across local, provincial, and national government. Middlepunt is the first project awarded under the South African government’s Renewable Energy Independent Power Producers Procurement Programme (REIPPPP) Bid Window 7 to reach financial close.
Once operational, the project is expected to generate approximately 770 GWh of clean electricity annually and will connect to the Everest Main Transmission Substation (MTS), enabling efficient integration into South Africa’s national grid. This will result in the avoidance of 813,000 tonnes of carbon dioxide-equivalent emissions annually and will provide enough energy to power approximately 325,000 households. The electricity supplied to the South African grid is priced at ZAR 458/MWh (approximately USD 27/MWh). This represents a significant step forward for the country, making the transition from fossil fuels to renewable energy highly cost-effective. It ranks among the most affordable green energy available anywhere in the world.
A 20-year Power Purchase Agreement (PPA) has been concluded with the National Transmission Company of South Africa (NTCSA), further strengthening the role of transmission reform and market evolution in unlocking new generation capacity.
The successful close of the Middlepunt Solar project further contributes to Mulilo’s strategic ambition of delivering 1 GW of new generation capacity per year, and forms part of its growing portfolio across wind, solar and battery energy storage technologies.
This achievement was made possible through close collaboration between the public and private sectors, including key stakeholders such as the Department of Electricity and Energy, the Independent Power Producer Office (IPPO), NTCSA, and Eskom. The project also benefited from the expertise of financial and legal advisors, including Standard Bank, Absa, Nedbank, PepperTree Capital, Bowmans, Fasken, and DKVG, as well as technical advisory support from Arup and insurance advisory from Marsh.
The milestone was further strengthened by the backing of Mulilo’s shareholders, Copenhagen Infrastructure Partners (CIP) and Norfund, alongside co-sponsors the Reatile Group and Perpetua as BEE partners, and a local community trust—underscoring Mulilo’s commitment to inclusive participation and long-term shared value creation in the Matjhabeng Local Municipality.
Jan Fourie, CEO of Mulilo, commented:
“Financial close of the Middlepunt Solar PV project marks a major achievement for South Africa’s renewable energy programme under Bid Window 7. Reaching this milestone required immense effort and collaboration from a wide range of stakeholders across government, industry, and our financial, legal and technical partners. We are deeply grateful to all who contributed to making this project a reality.”
“At Mulilo, we remain committed to powering the future through high-quality renewable energy projects that strengthen energy security, drive economic growth, and support South Africa’s just energy transition. Middlepunt exemplifies the strength of our partnerships and the confidence our stakeholders have in our ability to deliver at scale and at the lowest cost of electricity.”
