The environmental approval indicates that the project has the most important permits in place, and it enables the construction of a co-located utility-scale battery energy storage facility, said Magnora
Magnora to build 260MW solar project in South Africa. (Credit: Bishnu Sarangi from Pixabay)
Norwegian renewable energy development company Magnora has obtained the environmental authorisation for one of its solar PV projects in South Africa.
With a total installed capacity of around 260MW, the solar project is estimated to produce more than 600GWh per annum.
Magnora said that the granting of environmental approval indicates that the project has the most important permits in place.
Also, it enables the construction of a co-located utility-scale battery energy storage facility.
The project is being developed in an area with a high range of solar radiation, with an estimated annual output of more than 2300kWh/kWp, said the company.
Magnora CEO Erik Sneve said: “We are very pleased with our development in South Africa and see great interest from potential buyers in the market for mature projects.
“We hope and believe that we have projects ready for divestment already by the end of this year, confirming the great potential for attractive value creation we see in the South African renewables market.”
After offloading its oil and gas-related business in 2018, Magnora has transitioned into a renewable energy development company.
In February last year, the company entered the South African renewables market with the acquisition of an 850MW project portfolio.
Simultaneously, it has further strengthened its footprint by acquiring a 92% stake in the renewable project development company African Green Ventures (AGV).
AGV develops solar and onshore wind projects in South Africa, with a current pipeline of around 1.8GW of projects under active development.
Magnora business development VP Espen Erdal said: “The AGV team has shown impressive speed and competence within solar and wind project development, being confirmed through the significant milestones achieved over the last months.
“The expected yearly energy output for the solar PV project shows the attractiveness for renewable energy in South Africa.”