Scatec’s South African joint venture renewable platform, Lyra Energy, has secured power purchase agreements with three leading commercial and industrial customers for a substantial share of the 255 MW Thakadu solar power project
The agreements mark the first solar development under the Lyra platform in South Africa and signal growing private sector demand for dependable and competitively priced renewable energy solutions.
“The announcement of Lyra Energy’s first solar plant in South Africa is a milestone for this trading platform. Securing offtake agreements with private sector customers for the Thakadu project demonstrates the growing appetite amongst businesses for reliable, cost-effective clean power. Our aggregator model is making renewable energy more accessible, helping South African companies reduce costs and emissions while supporting the country’s energy transition,” remarked Scatec CEO Terje Pilskog.
Eben de Vos, Head of Lyra, highlighted the collaborative structure behind the project and its broader significance for the market.
“We’re proud to launch the Thakadu solar power plant with strong commercial and industrial partners onboard. By pooling resources and offering flexible, risk-managed contracts, Lyra Energy is empowering businesses of all sizes to benefit from large-scale renewable energy. This project is a testament to the strength of our partnership and our commitment to building a sustainable future for South Africa,” commented Eben de Vos, Head of Lyra.
Scatec will deliver Engineering, Procurement and Construction services for the plant, alongside Asset Management and long-term Operations and Maintenance support. Development will proceed in two phases. Financial close and construction commencement for the first phase are anticipated in the first quarter of 2026, with the second phase expected to follow later in the year. Detailed information regarding capital expenditure, financing arrangements and the full scope of Scatec’s EPC responsibilities will be confirmed at financial close.
Lyra Energy operates as a partnership between Scatec, Standard Bank and Stanlib, with Scatec holding a 50% stake and the remaining share owned by its partners. The platform is designed to provide medium and large commercial and industrial users with a lower-risk, adaptable power supply model through flexible contracting structures. By aggregating renewable generation capacity and distributing it among multiple corporate customers, Lyra enables businesses to access utility-scale clean energy without having to independently develop and finance their own projects.