SPS acquires two 5MW solar projects in Malmesbury, Swartland, enters into PPA with Energy Exchange

Sustainable Power Solutions (SPS), a leading developer and owner of solar PV and battery storage projects, has announced the acquisition of two 5MW solar projects in Malmesbury, Swartland through the purchase of the shareholding in Slimsun Too (Pty) Ltd.

SPS further announced the signing of a Power Purchase Agreement (PPA) with Energy Exchange, the energy trading company jointly owned by Remgro and RMB, for the offtake of the energy from these plants. The plants are being constructed on land owned by Anthony Corin of Franco Afrique Technologies, a pioneering force in South Africa’s renewable energy sector.

This strategic acquisition, finalised earlier this year, grants SPS full ownership of Slimsun Too, which holds the development rights for two 5MW solar plants in the Malmesbury region. The projects will connect to the Eskom Eenboom Substation, utilising the Eskom network to deliver energy to Energy Exchange’s customers.

Construction of the first phase is slated to begin in July 2024, with completion anticipated by May 1, 2025. The second phase will commence in May 2025 and is projected to be completed within 12 months thereafter. Each phase has an investment value of approximately R85 million per solar plant.

“The acquisition of the Slimsun Too projects and the PPA entered into with Energy Exchange mark a significant advancement for both SPS and the renewable energy sector in South Africa,” says Francois van Themaat, SPS MD of Large Projects. “We are pleased to collaborate with Energy Exchange and Anthony Corin on these projects and extend our gratitude for their invaluable support in achieving financial close.”

The development of these solar plants is set to bring substantial benefits to the Malmesbury area. Beyond providing clean, renewable energy and reducing carbon emissions, the projects will support local infrastructure improvements and increase the region’s energy resilience.

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