Scatec Expands Scatec South Africa Solar Presence with 255 MW Solar Plant
In a significant move to bolster South Africa’s renewable energy capacity, Norwegian clean energy leader Scatec is set to develop a new 255 MW solar power plant. The project, named Thakadu, is being driven by Lyra Energy, a joint venture renewable energy platform in which Scatec holds a 50% stake alongside partners Standard Bank and Stanlib.
This development marks a major milestone for Lyra Energy, as the platform has successfully secured power purchase agreements (PPAs) with three prominent commercial and industrial customers. These agreements cover a substantial portion of the Thakadu plant’s output, underscoring the growing demand for clean, reliable power from the private sector amid the country’s ongoing energy challenges.
The Thakadu Project: A New Model for Scatec South Africa Solar Energy Offtake
The 255 MW Thakadu solar plant is the inaugural project for Lyra Energy’s innovative trading platform. This model is designed to pool renewable energy from large-scale projects and make it accessible to a diverse range of business customers. By aggregating demand, Lyra can offer competitive and stable clean energy solutions to companies seeking to reduce both their carbon footprint and their energy costs.
Scatec will play an integral, end-to-end role in the project’s lifecycle. The company is slated to provide comprehensive engineering, procurement, and construction (EPC) services. Following commissioning, Scatec will also manage the plant’s long-term performance through its Asset Management and Operations & Maintenance (O&M) services.
Phased Development and Timeline for Scatec South Africa Solar
The Thakadu solar project is planned for development in two distinct phases. The first phase is expected to reach financial close and begin construction during the first quarter of 2026. The second phase is scheduled to follow later in the same year.
Further details regarding the project’s capital expenditures and financing structure are expected to be announced upon reaching financial close for the first phase.
Driving South Africa’s Private Sector Energy Transition with Scatec South Africa Solar
The Thakadu project is a clear indicator of the private sector’s increasing role in driving South Africa’s transition to renewable energy. As businesses seek greater energy security and cost predictability, direct offtake agreements with independent power producers are becoming a vital part of the energy landscape. This project not only adds significant clean energy capacity to the grid but also demonstrates a scalable and commercially viable model for future renewable developments in the region.
