Project achieves financial close

Independent power producer EDF Renewables achieved commercial and financial close on its Umoyilanga project on November 28, 2023, reaching commercial close with the Department of Mineral Resources and Energy (DMRE), and then concluding financial close with financial institutions Nedbank, RMB and the Development Bank of Southern Africa. This was consequent to its attaining legal close on August 30, 2023, with the signing of the power purchase agreement (PPA) with State-owned power utility Eskom, and the implementation agreement (IA) with the DMRE, for the hybrid renewable-power facility to be built in South Africa.
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Energy company driving global move to renewables

In South Africa, global renewable-power producer Scatec has initiated numerous projects under the Renewable Energy Independent Power Producer Procurement Programme contributing towards a more sustainable energy grid. The company says that as a major player in the renewables space, its role extends beyond simply providing renewable-energy solutions.
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