Norway based renewable energy player Magnora ASA has announced that it has received environmental approval to forge ahead with a major solar project in South Africa.
According to the official statement of Magnora, the approved solar project will have a total installed capacity of approximately 260 MW of solar PV and an estimated production of over 600 GWh per year.
Once in operation, the plant is expected to generate more than 600 GWh of electricity annually.
The project enables the construction of a co-located battery energy storage facility, Magnora said.
Oslo-based Magnora stepped into the South African renewables market in February 2021 after acquiring an 850-MW project portfolio. A year later, it purchased 92% of South African solar and onshore wind project developer African Green Ventures (AGV) through which it is implementing greenfield projects to the ready-to-bid/build phase.
Its current pipeline in the country consists of around 1.8 GW of projects under active development.
“We are very pleased with our development in South Africa and see great interest from potential buyers in the market for mature projects,” said CEO Rik Sneve. He added the Oslo-based company expects to have projects ready for divestment by the end of this year.