Lyra Energy, a Scatec ASA-led (OSL:SCATC) South African joint venture, has secured off-takers for a large portion of its debut solar project, a 255-MW development in Thakadu.
Kalkbult solar farm in South Africa. Image source: Scatec (www.scatec.com)
The company has sealed three separate power purchase agreements (PPAs) with unnamed private sector customers, the Nordic energy firm said in a statement today.
Located in Thakadu, the project is planned to be implemented in two phases. Financial close and construction start of the first phase are targeted for the first quarter of 2026. The second phase is expected to be launched later in 2026.
Scatec will provide engineering, procurement, and construction (EPC), as well as asset management and operations and maintenance services for the project. Capex, financing structure and Scatec’s EPC-scope will be provided at financial close.
Lyra is a renewable energy platform that offers power solutions for medium- and large-scale commercial and industrial (C&I) users through a flexible contracting structure. It was launched through a collaboration between Scatec, Standard Bank and Stanlib. The Nordic firm owns 50% of the joint business, while the other partners hold the remaining 50%.
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