NOA acquires 350MW Khauta Solar in Free State

Company Overview:

• NOA Group, an renewable energy IPP and Aggregator, recently acquired Khauta Solar PV Facility, bringing its total grid-secured assets to approximately 500MW, marking the first half-gigawatt milestone for the company.
• The Solar PV facility is located in the Free State and is on track to reach financial close and commence construction in the fourth quarter of 2024.
• NOA aims to expand its renewable energy portfolio to 5GW by 2030.
• NOA is funded by Africa Infrastructure Investment Managers, (“AIIM”), a leading Africa focused infrastructure-focused private equity fund manager, and part of the Old Mutual group.
• The company has secured $180 million in equity financing for project development, and energy procurement
• Project Pipeline: The company is advancing an extensive pipeline of projects with a total capacity of 2.5GW.
• By the end of this year, approximately 500MW of NOA’s renewable energy facilities are expected to be under construction.
• Due to its equity capital, NOA’s Trading entity is a ‘banked’ buyer of electrons, enabling the entity to sign PPA with it’s own renewable energy assets, as well as 3rd party IPPs, facilitating expedited Financial Close of projects. As a result, NOA Trading is able to escalate the delivery of electrons to its for commercial and industrial clients.
• As an IPP and energy aggregator, NOA supports clients in achieving their net-zero ambitions, whilst saving on their energy costs
• NOA leverages Eskom’s transmission infrastructure, its diverse portfolio of operating assets, as well as innovative financial engineering to provide optimised and cost-effective renewable energy solutions.,
• NOA focuses on the acquisition and development of projects to contribute to the steady growth of South Africa’s energy sector.