German Firm PNE Sells 240-MW Solar Project in S. Africa

Apr 10, 2024 12:29 PM ET

• PNE AG sells 240-MW solar project in South Africa to NOA Group Ltd, aiming to provide clean energy to mining and agricultural sectors.

German renewables developer PNE AG has sold a 240-MW solar photovoltaic project in South Africa to NOA Group Ltd. The Khauta solar project, located in the Free State province, is expected to be fully developed by mid-2024 with the possibility of expansion. PNE will continue to support the project through its South African development arm WKN Windcurrent.

The project is strategically located in a region with a strong presence of mining, resources, and agricultural sectors, providing potential for delivering solar power to their operations. PNE CEO Markus Lesser highlighted the partnership with NOA as a step towards a secure power supply through clean energy. NOA CEO Karel Cornelissen expressed the company’s commitment to addressing South Africa’s energy supply deficit through the Khauta project, which will be the first large-scale solar facility in their portfolio.

What are the key benefits of PNE AG’s sale of the Khauta solar project in South Africa?

• Access to new markets: The sale of the Khauta solar project in South Africa allows PNE AG to expand its presence in the African renewable energy market.
• Financial gains: The sale of the 240-MW solar project provides PNE AG with a significant financial boost, allowing the company to reinvest in other renewable energy projects.
• Strategic partnership: The partnership with NOA Group Ltd. provides PNE AG with the opportunity to collaborate with a company committed to addressing South Africa’s energy supply deficit.
• Diversification of portfolio: The sale of the Khauta solar project allows PNE AG to diversify its portfolio and explore new opportunities in the solar energy sector.
• Contribution to clean energy transition: The development of the Khauta solar project will contribute to South Africa’s transition towards clean and sustainable energy sources, reducing reliance on fossil fuels.