Oasis 1 renewable and BESS portfolio

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The Oasis 1 portfolio project comprises the following projects: Oasis Mookodi (77MW capacity with 308MWh storage), Oasis Aggeneis (77MW capacity with 308MWh storage), and Oasis Nieuwehoop (103MW capacity with 412MWh storage). The three projects amount to 257MW of capacity and 1,028MWh of storage. All projects are located in the Northern Cape Supply Area, South Africa. The sponsors are EDF group in collaboration with Mulilo Energy Holdings, which is majority owned by Copenhagen Infrastructure Partners P/S (CIP), Pele Green Energy and Gibb-Crede. The portfolio reached financial close, on 15 and 19 November 2024. Awarded in the first round of South Africa’s Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP), the projects are expected to be commissioned within 24 months and will contribute to the security of supply and stabilise the electrical grid in the country. The South African Department of Mineral Resources and Energy (DMRE) awarded preferred bidder status to five projects of Round 1 of the Battery Energy Storage Independent Power Producer Programme (BESIPPP1) in November 2023. The Oasis consortium, which was awarded three of the five projects, is led by EDF Group and includes co-sponsor Mulilo, and equity partners Pele Energy Group and Gibb-Crede. Each project includes a 5% ownership interest for local communities through a Community Trust. Oasis Mookodi was the first project within the Oasis portfolio to achieve Financial Close on 15 November 2024, followed by, Oasis Aggeneis and Oasis Nieuwehoop, on 20 November 2024. The consortium has raised 7 billion Rand (around $386.6m) in debt funding from the Standard Bank of South Africa and ABSA, to finance the projects. The Oasis projects will operate under a 15-year Power Purchase Agreement with Eskom, South Africa's public utility. The battery systems will be supplied by Envision Energy, following a contract with EDF Group, signed in December 2024. The projects are to improve the grid flexibility and stability of South African electricity infrastructure and contribute to power shortage prevention. https://www.edf.fr/en/the-edf-group/dedicated-sections/journalists/all-press-releases/oasis-1-battery-energy-storage-systems-projects-all-achieve-financial-close-0 ; https://www.dfa.co.za/news/northern-cape-powers-ahead-with-battery-energy-storage-projects-a2a8a825-00dc-46e0-99c7-1716b9956d0f/ ; https://www.linkedin.com/posts/edf-renewables-south-africa_edf-edfrenewables-batterystorage-activity-7252964603129712640-Ksh_/ ; https://www.powersystems.technology/news-pst/copenhagen-infrastructure-partners-and-edf-led-consortium-secures-257mw-battery-energy-storage-projects-in-south-africa.html ; https://www.greenbuildingafrica.co.za/two-more-projects-reach-commercial-close-in-south-africas-battery-energy-storage-ipp-procurement-programme-bid-window-1/ ; https://south-africa.edf.com/en/news/oasis-1-mookodi-bess-project-reaches-commercial-close; https://south-africa.edf.com/sites/south_africa/files/2024-03/Oasis%20Nieuwehoop_%20BESS%20Electricity-generation-licence-application-form_public%20issue_0.pdf ; https://www.aboenergy.com/en/media-center/press/2024/2024-11-21_battery-projects-southafrica_financial-close.html ; https://www.prnewswire.com/news-releases/envision-energy-secures-south-africas-largest-energy-storage-order-302332217.html