Mogobe battery energy storage system (BESS) (103 MW / 412 MWh)

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The project comprises the construction of the Mogobe battery energy storage system (“BESS”) facility totaling 103 MW / 412 MWh, located near Kathu in the Northern Cape, South Africa. The sponsor is Scatec ASA, NorwayScatec, owning 51% of the equity in the project with Perpetua Mogobe (RF) (Pty) Ltd (Perpetua Holding company) owning 46.5% and a holding company of the Mogobe Local Community Trust owning 2.5%. Scatec will be the engineering, procurement, and construction (EPC) provider and provide operations & maintenance (O&M), as well as asset management (AM) services to the project.The project reached financial close in October 2024. Mogobe BESS was awarded a 15-year power purchase agreement (PPA) under the first bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) in South Africa. As part of the PPA, Scatec will receive payments for making the storage capacity available for the National Transmission Company of South Africa (NTCSA) which will utilise the capacity to balance the grid. The estimated total capex for the battery energy storage project is ZAR 3.0 billion (USD 170 million) of which the physical assets contracts account for approx. 83%. The project will be financed by $154m (ZAR 2.7 billion) of non-recourse project debt, with the Standard Bank of South Africa as mandated lead arranger, and the remaining $16m by equity from the sponsors. https://scatec.com/2024/10/18/scatec-reaches-financial-close-and-prepares-for-construction-start-for-battery-energy-storage-project-in-south-africa/ ; https://sponsorships.standardbank.com/cib/global/who-we-are/about-us/news/standard-bank-in-partnership-with-scatec-reaches-financial-close-for-battery-energy-storage-project-in-south-africa https://scatec.com/2024/10/18/scatec-reaches-financial-close-and-prepares-for-construction-start-for-battery-energy-storage-project-in-south-africa/ ; https://sponsorships.standardbank.com/cib/global/who-we-are/about-us/news/standard-bank-in-partnership-with-scatec-reaches-financial-close-for-battery-energy-storage-project-in-south-africa