The Oasis 1 Battery Energy Storage System BESS projects in South Africa, totalling 257 MW and 1 028 MWh of storage, have reached financial close.
These projects, located in the Northern Cape, are expected to enhance grid stability, support energy arbitrage and aid renewable energy integration, strengthening South Africas grid reliability.
Oasis Mookodi was the first project to achieve financial close , and now has been followed by Oasis Aggeneis and Oasis Nieuwehoop. The consortium has raised R7 billion in debt funding from Standard Bank and ABSA to finance the projects, which will operate under a 15-year power purchase agreement with Eskom.
Oasis Mookodi and Oasis Aggeneis have 77 MW capacity and 308 MWh storage each and Oasis Nieuwehoop has 103 MW capacity and 412 MWh storage.
Electricity solutions and services company, EDF Group, is leading the projects, in collaboration with renewable energy developers Mulilo and Pele Green Energy and wind farm investment company Gibb Crede.
Awarded in the first round of the Battery Energy Storage Independent Power Producer Procurement Programme BESIPPPP, t he projects are expected to be commissioned within 24 months.
The Department of Mineral Resources and Energy awarded preferred bidder status to five projects in Round 1 of the BESIPPP1 in November last year. Each project includes a 5 ownership interest for local communities through a community trust.
The EDF Group already operates four wind farms 145 MW and is currently developing wind, solar and hybrid projects totalling 1 GW of installed capacity.
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