SolarAfrica, an independent renewable power producer, has signed an agreement to acquire the 315 MW Nyakallo solar and battery storage project in Limpopo, South Africa, from Norsk Renewables, a Norwegian renewable energy project developer.

The companies said they will continue to develop the project toward financial close and construction. With financial close anticipated within the next 12 months, the project is expected to begin evacuating power by the second half of 2028.

Norsk Renewables originally developed the project with development support from Green Soll. The companies said the project has advanced through early-stage milestones, including grid connection, permitting, and initial design.

David McDonald, CEO of SolarAfrica, said, “Nyakallo is a highly attractive project that aligns well with SolarAfrica’s strategy of building a diversified portfolio of utility-scale renewable energy assets across South Africa. Its strong grid position and advanced development status make it an important addition to our pipeline as we continue expanding renewable energy supply to the commercial and industrial market.”

Under the transaction structure, SolarAfrica will act as the long-term owner and funding sponsor, while Norsk Renewables will continue to support the project through development, financing preparation, and commercialization activities.

The companies said the project is located within one of Eskom’s key transmission corridors and can connect directly to existing grid infrastructure, enabling it to proceed without relying on long-lead transmission upgrades.

The project is expected to supply grid-connected renewable power to South African businesses, serving commercial and industrial customers as the country’s power market shifts toward more decentralized procurement models, including trading and wheeling.

Limpopo has historically been associated with coal-based generation. The companies said Nyakallo would contribute to South Africa’s Just Energy Transition by adding renewable energy capacity in the province.

Founded in 2011, SolarAfrica is developing a utility-scale renewable energy portfolio of about 1.5 GW, already in advanced stages of development. This acquisition is a part of its plan to expand grid-connected renewable power supply to commercial and industrial customers. Previously, in 2026, the company’s subsidiary, Commercial Energy South Africa, closed an investment of R635 million (~$39 million) from Vantage Capital, Africa’s mezzanine debt fund manager, alongside co-investor Greenpoint Capital.

According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.