Fasken advised the Lenders on the financial close of two registered 100 MW SOLA Group energy projects. This is following the regulatory change in August 2021 to raise the licensing limit for distributed generation projects from 1 MW to 100 MW. The projects’ purpose is to fulfil the obligations of a bilateral electricity sales agreement between vertically integrated independent power producer SOLA Group and Tronox Mineral Sands.
These renewable energy facilities will supply electricity, through wheeling arrangements with State-owned utility Eskom, to five Tronox facilities in the Western Cape and KwaZulu-Natal for their own use.
The Fasken team led by Lara Bezuidenhoudt and Craig Whitley included, Ashen Jugoo, Nathisha Maharaj and Michal Asoulin.