PNE Group has achieved a major milestone in South Africa with financial close confirmed on its 240MW Khauta South photovoltaic project, marking the final project development stage and unlocking construction of the solar plant.
The agreement, finalised with South African energy company NOA Group and backed by Standard Bank, was announced in early June and represents the last payment milestone in the sales and development services agreement signed in early 2024.
Early construction at the Free State-based site has already begun, with commissioning expected in early 2027. Financial close on the adjacent 110MW Khauta West site is anticipated by the end of July.
Both projects were sold to NOA by WKN Windcurrent, the South African subsidiary of Germany-headquartered PNE Group, which has supported development work including securing grid capacity and meeting permitting requirements.
“Financial close on the Khauta South solar PV project is a major achievement, and the PNE Group is proud to have played a key role in its early-stage development,” said Heiko Wuttke, chief executive of PNE. “This milestone demonstrates once again that PNE is a reliable project developer and partner even after the sale of a project.”
Karel Cornelissen, CEO of NOA Group, said the successful close underlined the strength of the partnership: “This deal is testament to the power of partnership and the shared commitment between NOA and WKN to accelerate the build-out of large-scale renewable energy in South Africa.”
He added: “We’re excited about the future of the Khauta project and its contribution to a cleaner, more resilient energy sector in South Africa.”
PNE has been active in the country since 2010 and currently has a 5GW development pipeline of wind and solar PV projects, alongside two green hydrogen initiatives.
