SolarAfrica secures 98m to boost wheeling in South Africa
The first phase, consisting of 342 MW, will be delivered through three 114 MW facilities, delivering renewable energy to various off-takers through South Africa's power grid. Phases 2 and 3 will increase SunCentral's capacity to 1 GW.
SolarAfrica's project will offer wheeling on a one-to-many basis, making it accessible to a wider range of businesses in South Africa, unlike similar projects that offer one-to-one wheeling. The project is located between Hanover and De Aar in South Africa's Northern Cape province.
SolarAfrica's Chief Investment Officer Charl Alheit, who spearheaded the financial close, explains: 'Reaching financial close on the first 114 MW of our utility-scale wheeling development and Main Transmission Substation (MTS) investment marks a significant milestone in our commitment to advancing sustainable energy solutions for our customers in the commercial and industrial sectors.'
He adds that the substantial size of SunCentral will unlock access to cheaper, greener power for even more businesses across the country. 'We are excited to see this project move forward as we continue contributing to the energy transition while delivering long-term value to our customers."
SolarAfrica is part of the greater Starsight Energy Africa Group. The success of SunCentral will act as a blueprint for similar (and possibly smaller) off-site generation projects in other key African markets in which the Starsight Energy Africa Group companies operate.
'The construction of SolarAfrica's SunCentral is a critical step in our journey to expand clean energy adoption across Sub-Saharan Africa, says Paul van Zijl, Group CEO of Starsight Energy Africa Group. 'We are excited to move this project forward and continue delivering long-term value to our customers,' he says.
SolarAfrica is backed by world-class investors African Infrastructure Investment Managers (AIIM) and Helios Investment Partners who both hold decades-long track records of bringing investment to support African innovation.
'Reaching Financial Close on the first 114 MW on SunCentral is a fantastic milestone for SolarAfrica, says Thor Corry, Investment Director at AIIM.
'The modular approach to construct the MTS and plug in subsequent 114 MW modules provides a superb platform for SolarAfrica to scale at pace to meet the needs of the C&I customers in South Africa who want to secure price certainty and cost efficiencies while furthering South Africa's Just Energy Transition. With South Africa requiring up to 30 GW of new capacity by 2030 to meet its climate commitments and energy needs, projects like this are crucial,' Corry concludes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
04-08-2025
- Daily Tribune
DRCongo, Rwanda outline deal on mining, economic cooperation: US
The Democratic Republic of Congo (DRC) and Rwanda have reached an outline economic cooperation accord during their first talks since signing a peace deal, the United States announced. A peace agreement reached in June aimed to end decades of conflict in eastern Congo. It was overseen by Washington which has sought to increase its access to the region's vast mineral wealth. The 'economic integration framework' initialled on Friday is part of the peace accord, the US State Department said. It is designed, according to the peace deal, to introduce greater transparency into supply chains for critical minerals such as coltan and lithium and should be effective by the end of September. The State Department said the two countries had agreed to coordinate 'in areas including energy, infrastructure, mining, national park management and tourism, and public health', without giving further details. 'These milestones represent concrete progress in advancing security, economic cooperation, and the shared pursuit of peace and prosperity under the Peace Agreement,' Massad Boulos, President Donald Trump's senior advisor on Africa, posted on X. Eastern DRC, a region bordering Rwanda with abundant natural resources, saw a fresh surge of violence this year when the M23 armed group, backed by Rwandan troops, captured the key cities of Goma and Bukavu. After months of broken truces, the DRC and M23 signed a declaration of principle on June 19 reaffirming their commitment to a permanent ceasefire. Two days earlier, the Kinshasa government inked an agreement with US group Kobold Metals, which specialises in exploring for critical metals. DRC President Felix Tshisekedi said in April he had met US envoy Massad Boulos to discuss access to minerals. Coveted minerals The DRC is the world's leading producer of cobalt. It also has deposits of gold and other valuable minerals including coltan, a metallic ore that is vital in making phones and laptops, and lithium, which is essential for electric car batteries. On Thursday and Friday, representatives from the DRC and Rwanda, alongside observers from the United States, Qatar and the African Union, held their first meetings in Washington since signing the peace deal. The US said the economic framework and a meeting on Thursday of the countries' peace deal monitoring committee were a 'significant step', saying the African neighbours were 'taking meaningful actions to advance security and economic cooperation'. The peace deal has been welcomed by the African Union and the United Nations, even if analysts remain sceptical about the chances of long-term peace while militias still hold sway in much of eastern DRC. The UN says thousands have been killed in the recent unrest and hundreds of thousands displaced. Rwanda denies providing military support to the M23 but says its security has long been threatened by the presence in the region of the Democratic Forces for the Liberation of Rwanda (FDLR), established by ethnic Hutus linked to the massacres of Tutsis in the 1994 Rwandan genocide. Kinshasa and the M23 have given themselves until August 8 to start talks on a comprehensive peace accord, to be signed by August 17.
Gulf Insider
28-07-2025
- Gulf Insider
Why is Gold in Dubai Cheaper Than in India?
Dubai is a global citizen's paradise. Known for its modern architecture, luxury shopping experiences, vibrant nightlife and must-see landmarks like Burj Khalifa. Dubai also boasts of its world-famous gold souks that have earned it the nickname 'City of Gold'. As if this association with gold were not enough, there's another reason Dubai is very popular. Gold in Dubai is cheaper than it is in India. Is this really true? We will come back to this. First, let's understand Dubai's association with gold. It may surprise you to know that Dubai does not have a single gold mine of its own. Then, where does it get its gold? All that glittering gold that you see in Dubai is sourced primarily from African nations, Turkey, Switzerland and Russia. And who are the buyers? After sourcing from global gold mines and refining it, Dubai gold finds buyers in India and China, the two largest gold-consuming countries in the world. Now, before we compare India and Dubai gold prices, let us understand the carats and purity levels of gold available in Dubai. Carat or Karat is the term used to measure the gold content or purity. 24 carat gold is made up of 24 parts pure gold, whereas 22 carat gold is made up of 22 parts gold and 2 parts alloyed metals. Similarly, for 21 and 18 carat where other metals added constitute 3 and 6 parts. In the West, the karat is expressed in fineness. For example, 24 carat gold is expressed as 1,000 parts out of 1,000 pure or fineness 1.000. Similarly, 22 carat is expressed as 22 divided by 24, which will give you a fineness of . you multiply .9166 by 1,000, it gives 916.66 level of purity. Now, for calculating fineness of 21 karat, 21 is divided by 24 to arrive at .875 fineness and similarly, for 18 karat it is .750 fineness. The purity level for 21 karat and 18 karat gold is defined as Gold 875 and Gold 750. So, 22 carat gold can be depicted as fineness of .9166 or 916.66 level of purity. The Dubai Jewellery Group (DJG), a premier trade association for the Dubai jewellery industry, has a simpler and transparent way of disseminating real-time gold prices for consumers. Most jewellery outlets display the prevailing 'Suggested Retail Jewellery Price' on screen, which are digitally updated 3 times every day. As an Indian, you need to have the United Arab Emirates Dirham (AED) to buy gold in Dubai. At the current foreign exchange rate, you need Rs 23.50 to buy 1 AED. On July 23, one gram 24 carat gold was quoted at AED 405.25, approximately Rs 9,523. Comparatively, gold in India was trading higher at Rs 9,888. As the purity of gold falls, so do the price. 22K traded at AED 375.25, 21K at AED 359.75 and 18K at AED 308.50. If you are buying gold worth Rs 2 lakh (about 20 grams) in Dubai, it could help you save over Rs 7,000. Gold price today in India is Rs 99,450. For the first time in 2025 gold crossed Rs 1 lakh on July 23 to create an all-time high level. Bringing gold from Dubai may not be simple unless you stick to the laws of the land. I have written about this earlier. Just to recap… Gold can be transported in checked baggage up to one kilogram, with a minimum six-month overseas stay required for one kilogram, if disclosed and duty paid. Indian women are allowed to bring up to 40 grams of gold or up to a maximum value of Rs 1 lakh, while men are allowed to bring up to 20 grams of gold or up to a maximum value of Rs 50,000 without paying any duty. Got kids? Children under 15 can bring 40 grams of gold ornaments up to a maximum value of Rs 1 lakh without paying customs duty. And make sure that the weight of gold, including ornaments, should not exceed 1 kg. per passenger. Needless to say, keep all purchase vouchers handy at the airport. Gold in Dubai is cheaper than in India because of taxes. There's no GST on gold in Dubai. But, there's 5% of value-added tax (VAT). Not to worry. Dubai makes sure its tax-free shopping for you. You can claim a full refund of VAT. There are time limits to adhere to for such refunds. If you bring gold from Dubai or any other location, you will have to pay customs duty. The rate will depend on the quantity and the gender. Here are the customs duty rates on gold: 3% for 20 to 50 grams for males/ 40 to 100 grams for females and children 6% for 50 to 100 grams for males/ 100 to 200 grams for females and children 10% for over 100 grams for males/ over 200 grams for female and children For commercial use, gold imported into India is subjected to GST, Agriculture Infrastructure Development Cess (AIDC) and Integrated Goods and Service Tax (IGST), all adding up to the final in-hand price for consumers. Indians visiting Dubai for vacation end up buying gold due to the significant price gap between the two countries. For Indians, 24-carat gold can be 5% to 7% cheaper in Dubai. But wait! You also need to ensure the gold you buy in Dubai is pure. So, just as Hallmarking is a must in India, ensure that gold purchased in Dubai has the Dubai Central Laboratory Department issued Bareeq Certification. Also read: Dubai Mallathon: Crown Prince Sheikh Hamdan Launches New Summer Fitness Programmes in Shopping Malls
Daily Tribune
04-07-2025
- Daily Tribune
Modi boosts India-Africa ties
AFP | Accra Indian Prime Minister Nerendra Modi yesterday outlined plans for deeper ties between his country and Africa, as New Delhi increasingly vies for a stronger economic presence on the continent along with China and Russia. In a speech to Ghana's parliament, Modi highlighted a major rail project that opened in the west African nation last year, financed by the India Export-Import Bank. He also underlined his country's expanding diplomatic development and business footprint in Africa. 'Over 200 projects across the continent enhance connectivity, infrastructure and Industrial capacity,' Modi said. On the political front he welcomed 'the establishment of Ghana-India Parliamentary Friendship Society in your parliament'. Modi's visit is the first to Ghana by an Indian leader in three decades. But India's rival China remains the most important backer of infrastructure across the continent, a position only strengthened as the United States and other Western powers slash aid programmes. In a meeting Wednesday, Modi and Ghanaian President John Mahama agreed to deepen security and mining ties. In November 2024, the Indian prime minister visited Nigeria, discussing trade and security at a time when Indian companies had expressed interest in investing in Nigerian industries including steel. The Indian prime minister also yesterday called for a greater global diplomatic role for both his country and Africa, warning that 'the world order created after the Second World War is changing fast'. Global South's voice Modi noted that the African Union had been admitted as a permanent member to the G20 while India held the rotating presidency of the bloc. Progress on worldwide challenges including climate change, diplomacy, 'terrorism' and pandemics 'cannot come without giving voice to the Global South', he added. Resource-rich Ghana is Modi's first stop in a tour that will take the Indian premier to four other countries in Africa, the Caribbean and South America. The visit to Accra came as he made his way to Brazil for a summit of the BRICS group of emerging economies on Sunday and Monday. Highlighting his own country's economic development aspirations to become a 'developed nation by 2047,' Modi said 'India remains a committed partner in Africa's development journey.
