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Magnora ASA granted Environmental Authorisation for solar project

Magnora ASA has announced that one of its solar PV projects in South Africa has been granted Environmental Authorisation

The approved project will have a total installed capacity of approximately 260MW of solar PV, with an estimated production of over 600GWh per year.

A granted Environmental Authorisation signifies that the project has the majority and most important permits in place. The solar PV project allows for the construction of a co-located utility scale battery storage facility and is located in an area with extremely good solar radiation, with an expected yearly output in the excess of 2300KWh/KWp.

Erik Sneve, CEO of Magnora, said, “We are very pleased with our development in South Africa and see great interest from potential buyers in the market for mature projects. We hope and believe that we have projects ready for divestment already by the end of this year.”

Espen Erdal, VP business development in Magnora, commented, “The AGV team has showed impressive speed and competence within solar and wind project development, being confirmed through the significant milestones achieved over the last months. The expected yearly energy output for the solar PV project shows the attractiveness for renewable energy in South Africa.”

In February 2021, Magnora made its entry into the South Africa renewables market through the acquisition of an 800MW project portfolio, and further strengthened the investment by acquiring 92% of the renewable project development company African Green Ventures (AGV) in February 2022. The portfolio of projects under active development consists of approximately 1.8GW in South Africa.

Mangora South Africa is developing the projects from green to brownfield and is working on organically sourcing new projects to the portfolio.

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