Utility-scale solar plant reaches financial close for corporate market

The 475 MWac (620 MWdc) Notsi solar photovoltaic (PV) project in the Free State has reached financial close with commercial operation expected in May 2028.

Independent power producer Anthem is developing the utility-scale facility, which the company says is one of the largest solar PV projects announced in South Africa. Electricity from the plant will be supplied to commercial and industrial customers through long-term offtake agreements with Discovery Green and NOA Group.

According to Discovery Green Executive Director and developer Dan Ginsberg, the project is expected to reach commercial operation after an estimated 26-month construction period.

“We’ve already secured a grid budget quote from Eskom, which means the necessary grid studies have confirmed that the plant can fit into the network as it currently stands,” he told Energize. Ginsberg noted that, while some grid strengthening may occur in the broader region, the project is not dependent on a major new transmission build-out. The project will operate through a wheeling model.

Ginsberg said the Notsi plant will become the third generation asset integrated into Discovery Green’s supply portfolio, which aggregates electricity from multiple renewable projects and allocates it across corporate customers.

The company’s existing commercial and industrial customers include Glencore and Impala Platinum, which already receive electricity through the platform and are expected to benefit from the additional capacity.

Geographic diversification across multiple solar plants can help reduce variability in generation, Ginsberg added.

“The more plants you add in different locations, the more the generation profile begins to smooth out,” he said. “It might be cloudy at one plant and sunny at another and, over time, the combined output becomes more stable.”

Discovery Green Head Andre Nepgen said the scale of the Notsi facility is expected to support competitive renewable electricity pricing in the private market.

“At 475 MW export capacity, the project benefits from significant economies of scale,” he told Energize, noting that South Africa’s strong solar resource further improves the cost profile of large projects.

Renewable energy projects supplying corporate customers are increasingly structured through energy trading platforms, Nepgen added.

“Three years ago, most projects were bought directly by large energy users,” he said. “Last year, more than 80% of new projects entering construction were linked to trader platforms.”

However, Nepgen warned that tightening grid capacity could delay new developments with some projects now expected to deliver electricity to customers towards the end of the decade.