Anthem Secures Financial Close for Solar Project in Eswatini

Renewable energy platform Anthem has reached financial close on a 20MWac/23.14MWdc solar project in Eswatini, marking a significant step in the country’s efforts to strengthen energy security and expand renewable electricity generation.

The Tsamela Solar project, located in the Hhohho Region near Ngwenya, is the first development under the Eswatini Energy Regulatory Authority’s ESERA Solar PV procurement programme to achieve financial close.

The project is being financed by Standard Bank Eswatini and Standard Bank South Africa as senior lenders, while the Public Service Pension Fund is participating as both a debt and equity partner.

Anthem said the facility would supply electricity to the Eswatini Electricity Company and contribute to the country’s broader transition towards cleaner energy sources.

Construction of the project is already underway, with Alensy Energy Solutions leading engineering and installation works.

The solar facility will occupy approximately 44.8 hectares and include more than 37,000 bifacial solar panels designed to improve energy generation efficiency.

Once operational, the plant is expected to generate about 47,788 megawatt-hours of electricity annually.

Commercial operations are projected to commence within 15 months.

The development comes as several African countries accelerate investment in renewable energy infrastructure to reduce dependence on imported electricity and fossil fuels while improving long-term energy resilience.

Eswatini has increasingly prioritised solar energy as part of efforts to diversify its electricity mix and improve supply reliability.

Anthem, which was launched in September 2025, is backed by the Climate Investment Fund, part of Norfund, alongside Norwegian pension fund KLP.

The company has rapidly expanded its footprint across Africa’s renewable energy sector.

Earlier this year, Anthem also achieved financial close on a 475MWac/620MWdc solar project in South Africa, further strengthening its regional portfolio.

According to the company, it currently holds a secured portfolio of more than 2.7GW across 17 operating wind and solar projects exceeding 1.1GW in generation capacity.

It also has five additional projects under construction with a combined capacity of about 920MW.

The Tsamela Solar project is expected to support Eswatini’s broader development goals by improving electricity access, supporting economic activity and reducing pressure on conventional power sources.

It also spotlights growing investor interest in Southern Africa’s renewable energy sector as countries pursue cleaner and more sustainable energy solutions.