Parsons Power Project Achieves Financial Close for 31MWp Solar Facility in Nelson Mandela Bay
The Parsons Power Project has achieved financial close for Phase 1A, enabling the construction of a 31MWp solar PV facility in Nelson Mandela Bay. This project is the largest utility-scale generation facility directly connected to the local electricity network, backed by a 25-year Power Purchase Agreement with POWERX. Key partners include Natura Energy, Raw Renewables, Standard Bank, and Yellow Door Energy, with Alensy Energy Solutions appointed as the EPC contractor. The total project aims for a capacity of 150 MW with a budget of R2.7 billion.
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The Parsons Power Project in Nelson Mandela Bay has reached financial close for Phase 1A, facilitating the construction of a 31MWp solar PV facility. This project is significant as it is the largest utility-scale generation facility connected to the local electricity network.
It is developed by Natura Energy and Raw Renewables, with Standard Bank as the arranger and lender. Yellow Door Energy is a co-investor, and the project's long-term viability is ensured by a 25-year Power Purchase Agreement with POWERX.
The overall project aims for a capacity of 150 MW with an investment of R2.7 billion. The facility's proximity to the Rowallan Park Distribution Substation allows for efficient electricity transport, providing businesses a renewable power alternative.
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