EDF Group, through its subsidiary EDF International, has successfully achieved financial close for three battery energy storage system (BESS) projects in South Africa with a combined capacity of 257 MW. The projects are part of a partnership with Mulilo Energy Holdings, Pele Green Energy, Gibb Crede, and majority shareholder Copenhagen Infrastructure Partners (CIP).
The consortium has raised ZAR 7 billion (USD 386.6 million) in funding, secured through local lenders Standard Bank and ABSA. The financing will support the Oasis 1 portfolio in South Africa's Northern Cape and North-West provinces.
This includes the Oasis Aggeneis project, which will add 77 MW/308 MWh of storage capacity, and the Oasis Nieuwehoop, with a capacity of 103 MW/412 MWh. Construction on both projects is scheduled to begin this month.
Additionally, the Oasis Mookodi project, a 77-MW/308-MWh facility located in Vryburg, North-West Province, reached financial close last week. This project is part of South Africa's first Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP).
Each project includes a 5% ownership stake for local communities through a Community Trust. All systems will operate under power purchase agreements (PPAs) with the country's utility, Eskom.
