SOLA Group Financial Close on Naos-1: 300MW Solar and 660MWh Battery Project to Wheel Private Power in South Africa
SOLA Group has achieved Financial Close and begun construction of its Naos-1 Hybrid Solar and Battery Project, marking a significant milestone in South Africa’s evolving private electricity market.
The development integrates a 300MW solar photovoltaic facility (435MWp) with 660MWh of battery energy storage.
The project is underpinned by long-term power purchase agreements with Sasol and Air Liquide.
It is the first utility-scale solar-plus-storage facility in South Africa specifically designed to wheel electricity across the national grid to private offtakers.
Situated near Viljoenskroon in the Free State, Naos-1 addresses a critical constraint in renewable energy systems meeting peak evening demand.
By storing surplus solar generation produced during daylight hours and dispatching it during high-demand periods, the project is structured to deliver firm, low-carbon power at competitive tariffs.
Developed, engineered and set to be operated by SOLA Group, Naos-1 is the largest privately contracted hybrid renewable energy project to reach Financial Close in South Africa to date. Commercial operations are expected to commence in the first half of 2028.
The project has secured backing from major South African financial institutions. The Development Bank of Southern Africa is the lead senior debt financier, alongside Nedbank, RMB, Investec and Absa.
Equity participation comes from RMB and Sanlam, with SOLA retaining majority ownership in partnership with Ubuzwe. The project is fully South African owned and more than 51% Black owned.
Naos-1 forms the first phase of a broader hybrid renewable pipeline, with an additional 600MW of solar and storage projects already at an advanced development stage.
Collectively, these initiatives position SOLA Group at the forefront of grid modernisation and private-sector decarbonisation, while contributing to long-term socio-economic development and community investment.
