Lyra Energy, a joint venture renewable energy platform in South Africa, has signed power purchase agreements with three major commercial and industrial consumers for a 255MW solar power plant named Thakadu. Scatec will handle EPC, asset management, and O&M services for the project, aiming to provide reliable, cost-effective clean power to businesses.

The construction of the solar power plant will occur in two phases, with the first phase expected to reach financial close and start construction in the first quarter of 2026. Details on capital expenditures, financing arrangements, and Scatec’s EPC role will be disclosed at the time of financial close.

Lyra Energy aims to offer a low-risk and adaptable power solution for medium-to-large commercial and industrial users through its flexible contracting framework. By pooling resources and providing risk-managed contracts, Lyra empowers businesses to benefit from large-scale renewable energy, fostering a sustainable future for South Africa.

By consolidating renewable energy resources to serve various commercial clients, Lyra facilitates access to large-scale clean power for businesses that may not have the means to develop independent renewable initiatives. Last month, Scatec entered into a power purchase agreement with the Egyptian Electricity Transmission Company for 1.95GW of solar power and 3.9 gigawatt-hours of battery energy storage systems in Egypt.

Read more at Yahoo Finance: Lyra Energy inks deal with commercial clients for 255MW solar project