Renewable energy company Pele Green Energy said on Thursday it reached a financial close for a Solar Plant with Glencore's ferroalloys unit and its joint venture partner Merafe Resources. The deal, valued at R2.1bn according to Bloomberg News, will see the development of the Sonvanger Solar PV Power Plant in the Free State.


The Sonvanger Solar PV Power Plant, a 100MW facility will contribute to the country's clean energy transition, Pele Energy said. Glencore, Merafi and Pele did not immediately respond to a request for a comment.

Nedbank Group and Absa Group will provide debt financing, with Pele Green Energy contributing equity, according to Pele MD Gqi Raoleka, as reported by Bloomberg.

All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).