Mulilo Secures Financing for 77MW Battery Storage Project in South Africa

South African renewable energy developer Mulilo has reached financial close for its 77MW/308MWh Hartebeesfontein Battery Energy Storage System (BESS) project, marking another milestone in the country’s efforts to strengthen grid resilience and accelerate the energy transition.

The project, located in North West province near Klerksdorp, is the fifth renewable energy development to reach the financing stage for Mulilo since the start of 2026, underscoring growing investor confidence in South Africa’s battery storage sector.

Funding for the project was provided by Absa, Standard Bank, and Nedbank, although the financial details were not disclosed. Legal and advisory support came from ENS, Bowmans, Fasken, PepperTree Capital, Marsh, and Arup.

The Hartebeesfontein facility was one of the projects awarded under the second round of South Africa’s Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP), where Mulilo secured five of the eight successful bids.

Once operational, the battery system will deliver 308MWh of energy storage capacity, providing critical grid support and ancillary services to the National Transmission Company of South Africa (NTCSA) under a 15-year power purchase agreement. The project is strategically located near Eskom’s Hermes Main Transmission Substation, allowing it to enhance network reliability and facilitate greater integration of renewable energy.

Mulilo’s local partner on the development is the Reatile Group, while the company acknowledged the support of the Department of Electricity and Energy, the Independent Power Producer Office (IPPO), NTCSA, Eskom, and shareholders Copenhagen Infrastructure Partners (CIP) and Norfund in achieving financial close.

Chief Executive Officer Jan Fourier said the project demonstrates the importance of collaboration in supporting South Africa’s evolving electricity system.

“Hartebeesfontein will help strengthen grid stability and support the continued growth of renewable energy, demonstrating the important role of collaboration in advancing South Africa’s energy transition,” he said.

The financing follows the recent financial close of Mulilo’s Beaufort West Solar, Orkney Solar, Middlepunt Solar, and Mercury BESS projects, further expanding the company’s renewable energy portfolio and reinforcing battery storage as a key component of South Africa’s future electricity mix.