SOLA Group

Our role

Investec has supported SOLA Group in developing the Naos Solar PV Project, a hybrid renewable energy facility near Viljoenskroon in the Free State.

The project comprises a 300MWac solar photovoltaic plant integrated with a 660MWh battery energy storage system, designed to deliver clean, reliable and dispatchable power to large industrial and trading offtakers.

Following a 29-month construction period, electricity will be supplied under 25-year power purchase agreements to Nomusize (Pty) Ltd and Air Liquide Large Industries South Africa Proprietary Limited, both guaranteed by Sasol Ltd.

Since 2022, SOLA has developed, financed and constructed 748MW of renewable capacity, reinforcing its position as one of South Africa’s most established renewable energy developers.

Investec’s Energy and Infrastructure and Treasury Sales and Structuring teams are providing the facility totalling alongside RMB, Nedbank, ABSA and the Development Bank of Southern Africa.

The transaction advances Sustainable Development Goal 7 (affordable and clean energy) and Goal 13 (climate action) by expanding utility-scale renewable energy capacity and accelerating the decarbonisation of South Africa’s energy system.

About SOLA Group

SOLA Group (SOLA) is a leading South African renewable energy developer and independent power producer (IPP) with extensive experience in utility-scale solar and battery storage projects. The company is recognised for pioneering large-scale private wheeling arrangements and delivering reliable renewable power to industrial and commercial customers across the country. Its expertise spans the full project value chain, including development, engineering, procurement and construction (EPC), as well as operations and maintenance.

Since 2022, SOLA has developed, financed and constructed 748MW of renewable energy capacity. Of this, 450MW comprises utility-scale projects, with approximately 350MW already operational and the remaining capacity expected to achieve commercial operation during 2025. SOLA also manages a significant pipeline of solar and storage projects under development, further strengthening its position as one of South Africa’s most established renewable energy businesses.