Ilikwa PV Facility Reaches Commercial Operation Date

Ilikwa PV Facility has achieved Commercial Operation Date (COD), marking the commencement of commercial electricity supply to multiple private commercial and industrial customers.

Ilikwa PV Facility July 2026

Located near Parys in the Free State, the 50MW project represents another milestone in South Africa’s rapidly expanding private electricity market. Developed by Mainstream Renewable Power, Ilikwa PV Facility is jointly owned by Mainstream (70%) and Investec (30%), with Investec also providing funding.

The commercial operation of this facility reflects the accelerating liberalisation of South Africa’s electricity market, where businesses are increasingly seeking flexible, cost-effective renewable energy solutions outside the traditional utility supply model. By supplying multiple commercial and industrial customers through flexible, shorter-term Power Purchase Agreements, the project demonstrates how innovative contracting structures are broadening access to private renewable energy, strengthening energy security and supporting corporate decarbonisation while stimulating continued investment in generation capacity.

“Ilikwa PV Facility, one of the first multiple customer offtake projects in the market, demonstrates what can be achieved when experienced partners work together towards a common goal. Delivering reliable renewable energy solutions for our customers is central to what we do, and this project reinforces Mainstream South Africa position as a trusted partner for large-scale private power solutions in South Africa.”

– Hein Reyneke, General Manager, Mainstream South Africa

The facility will generate more than 140 GWh of renewable electricity annually from over 101 000 PV modules, helping businesses secure reliable, and competitively priced clean energy while avoiding approximately 100 000 tonnes of CO₂ emissions each year.

Construction commenced in October 2024 and was completed over a 21-month period. At its peak, the project created employment opportunities for over 2 600 people, with the majority recruited from the neighbouring communities of Tumahole, Schonkenville and Vredefort. Working alongside construction partners, the project also prioritised local procurement and enterprise development, enabling meaningful participation by local businesses throughout the construction phase.

“The commercial operation of Ilikwa PV Facility reflects what Mainstream has consistently delivered in South Africa over the past decade, developing and delivering high-quality renewable energy projects that create lasting value for our customers, partners and communities. This milestone is a testament to the expertise, dedication and collaboration of our South African team and everyone who contributed to bringing the project to life.”

– Julie Berg, Group Chief Executive Officer, Mainstream

Beyond construction, Ilikwa PV Facility is investing in the long-term development of neighbouring communities through education and skills development initiatives. These include a bursary programme for local youth, support for local entrepreneurs and education partnerships aimed at strengthening STEM learning and building future skills within the region.

“Reaching commercial operation is a significant milestone for the Ilikwa PV Facility and reflects the strength of the partnership between Investec, Mainstream and the broader project team. We are proud to have supported the project from development through to delivery, helping enable renewable energy that will contribute to South Africa’s energy security and our customers’ decarbonisation objectives.”

– Martin Meyer, Head of Energy and Infrastructure Finance, Investec

About Mainstream

Mainstream Renewable Power was founded in 2008 with a view to develop utility scale renewable energy projects in developing markets around the world. Mainstream is a pure-play renewable energy company, with wind and solar assets across key markets Chile and South Africa.

The company has successfully delivered 6.6 GW of wind and solar generation assets to financial close ready.

About Mainstream South Africa

Mainstream Renewable Power South Africa is a well-established renewable energy developer, independent power producer and licensed electricity trader, established in 2009.

The company develops, constructs and operates renewable energy projects across South Africa and has built a fully integrated platform spanning development, energy trading, project delivery, asset

management and operations and maintenance. The business currently has approximately 148 MW of operating, 351 MW of construction-ready projects and a development pipeline of approximately 11.6 GW.

ENDS

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For queries, please contact Michél Werth or Lindsay Burgess on [email protected]