Feb 10, 2026 (MarketLine via COMTEX) --
The financing was supplied by FirstRand, via RMB, together with InvestecaEUR(TM)s corporate and institutional banking arm.
SolarAfrica has secured R1.5bn ($93.9m) in financing to advance its 114MW SunCentral 2 solar project in the Northern Cape, South Africa.
Funding came from FirstRand Bank, through its Rand Merchant Bank (RMB) unit, alongside Investec BankaEUR(TM)s corporate and institutional banking division.
The SunCentral 2 solar project is expected to deliver its first power supply by 2026.
This development is part of SolarAfrica's broader initiative to expand access to clean energy using utility-scale renewable generation coupled with a flexible wheeling delivery system, which allows for the distribution of electricity without the need for upfront capital investment typically linked to on-site solar installations.
SunCentral 2 follows the completion of SunCentral 1, also a 114MW facility, at the end of 2024.
These projects, along with the planned SunCentral 3, comprise phase one of SolarAfrica's larger vision for solar energy expansion, which aims to achieve a total capacity of 342MW.
Ultimately, SunCentral is projected to reach a full scale of 1GW, making it one of the largest solar initiatives in South Africa tailored for bilateral wheeling arrangements.
In addition to providing renewable energy, SunCentral 2 will include community upliftment initiatives similar to those introduced with SunCentral 1.
These initiatives will focus on job creation, education, local procurement and skills development, benefitting local residents and stimulating economic activity in cooperation with the project's main contractors.
SolarAfrica CEO David McDonald said: aEURoeBusinesses want power they can trust aEUR" clean, affordable and predictable aEUR" and SunCentral is being built exactly for that purpose. It is encouraging to see the confidence from our funding partners as we move into the next stage of delivery.
aEURoeMore than a big solar project, SunCentral is a long-term infrastructure investment that gives companies the ability to manage their costs, cut emissions and reduce their reliance on utility power that is often vulnerable to unpredictable tariff hikes. This next step gets us closer to bringing that value to even more South African businesses.aEUR
SolarAfrica's overall wheeling pipeline spans 3GW under development nationwide.
A segment of the funding from each SunCentral venture is dedicated to developing the Main Transmission Substation (MTS), which is engineered to manage up to 2GW of green power evacuation capacity.
This infrastructure enhances the strength of the national grid and supports future renewable energy connections.
aEURoeWith wheeling, we have a model that puts control back into the hands of commercial and industrial customers. Instead of just surviving tariff hikes, it allows companies to plan for growth with a cleaner, more dependable energy mix,aEUR added McDonald.
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COMTEX_474687912/2227/2026-03-05T03:12:23
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