South African independent power producer Mulilo has successfully reached financial close on the Hartebeesfontein battery energy storage system (BESS) project, a 77 MW/308 MWh facility located near Klerksdorp, in the North West.

This is Mulilo’s second renewable energy project to be executed within the Matlosana local municipality, which is strategically located near State-owned Eskom’s Hermes main transmission substation.

The Hartebeesfontein BESS project was awarded under Bid Window 2 of the Battery Energy Storage Independent Power Producer Procurement Programme, through which Mulilo secured five of the eight projects awarded.

The project is designed to provide system support through its 308 MWh storage capacity and will supply ancillary services to the National Transmission Company of South Africa (NTCSA) under a 15-year power purchase agreement.

Mulilo says the successful financial close of the Hartebeesfontein BESS project was made possible through collaboration between both the public and private sector, supported by key partners, including the Department of Electricity and Energy, the Independent Power Producers Office , NTCSA and Eskom, along with Mulilo’s shareholders, Copenhagen Infrastructure Partners (CIP) and Norfund.

Mulilo’s partner is the Reatile Group.

“Reaching financial close on this project is more than a project milestone, it is a tangible demonstration of what South Africa Inc. can achieve when capital, policy and execution align.

“With our partner, Mulilo, securing five projects awarded under Bid Window 2, our partnership realises a systematic build-out of the backbone infrastructure South Africa needs to unlock its renewable energy future. We are proud to stand alongside that ambition” says Reatile Group COO Sunette Smith.

Financing is being provided by Absa, Standard Bank and Nedbank, with legal and advisory support from ENS, Bowmans, Fasken, PepperTree Capital, Marsh and Arup.

Mulilo CEO Jan Fourie says the financial close of the Hartebeesfontein BESS marks an important milestone in the expansion of battery energy storage across South Africa.

“As our fifth project to reach financial close in 2026, it reflects the hard work, expertise, and commitment of the Mulilo team, together with our valued partner the Reatile Group and stakeholders.

“Hartebeesfontein will help strengthen grid stability and support the continued growth of renewable energy, demonstrating the important role of collaboration in advancing South Africa’s energy transition,” Fourie says.