Lyra Energy has reached financial close on its 255 MW Thakadu solar power project in North West Province with construction of the first phase expected to begin shortly and commercial operation targeted for the first half of 2027.
The project is supported by long-term power purchase agreements with a portfolio of private-sector offtakers, reflecting continued demand from South African commercial and industrial customers seeking price stability and greater energy security.
The project is structured around long-term private offtake agreements that underpin the development and financing of the solar facility. Once operational, the plant will add 255 MW of renewable generation capacity to the national grid.
Lyra Energy said the development model focuses on originating, financing, building, owning and operating renewable energy assets across the full project lifecycle.
“Our customers are entering into long-term partnerships backed by industry stalwarts like Scatec who have been responsible for developing and operating renewable assets in the country since the early stages of the sector,” says Eben de Vos, Head of Lyra Energy.
According to the company, maintaining involvement across development, financing, construction and operations allows closer alignment with customers over the life of the project.
