Sustainable Power Solutions (SPS) has acquired two 5 MW solar projects in Malmesbury, in the Western Cape, through the purchase of the shareholding in Slimsun Too.
SPS is a developer and owner of solar PV and battery storage projects.
SPS says it has also signed a power purchase agreement (PPA) with Energy Exchange, the energy trading company jointly owned by Remgro and Rand Merchant Bank, for the offtake of the energy from these plants.
The plants are being constructed on land owned by Anthony Corin of Franco Afrique Technologies.
The Slimsun Too acquisition grants SPS full ownership of the company, which holds the development rights for two 5 MW solar plants in the Malmesbury region.
The projects will connect to the Eskom Eenboom substation, utilising the Eskom network to deliver energy to Energy Exchange’s customers.
Construction of the first phase is slated to begin this month, with completion anticipated by May 1, next year.
The second phase will start in May 2025, and is projected to be completed within the following 12 months.
Each phase has an investment value of about R85-million per solar plant.
The development of the solar plants is set to bring substantial benefits to the Malmesbury area, says SPS.
“Beyond providing clean, renewable energy and reducing carbon emissions, the projects will support local infrastructure improvements and increase the region's energy resilience.”