South African renewable energy developer Mulilo has announced it has reached financial close on the Hartebeesfontein Battery Energy Storage System project, a 77 MW / 308 MWh facility located near Klerksdorp in the City of Matlosana Local Municipality in North West Province.

The milestone marks the company's fifth project to reach financial close in 2026 and its second renewable energy project to be executed within the municipality.

Project Background and Procurement

The Hartebeesfontein BESS project was awarded under Bid Window 2 of the Battery Energy Storage Independent Power Producer Procurement Programme, known as BESIPPPP. Mulilo secured five of the eight projects awarded under that bid window, making the company a dominant participant in the programme.

The facility is strategically located near Eskom's Hermes Main Transmission Substation, a factor that informed the project's siting within the City of Matlosana Local Municipality.

Under the terms of the procurement, the project will supply ancillary services to the National Transmission Company of South Africa under a 15-year power purchase agreement. Its 308 MWh storage capacity is designed to provide system support to South Africa's national grid.

Financing and Advisory Parties

Financing for the Hartebeesfontein BESS project is being provided by three of South Africa's major commercial banks: Absa, Standard Bank, and Nedbank. Legal and advisory support has been furnished by ENS, Bowmans, Fasken, PepperTree Capital, Marsh, and Arup.

The successful financial close was reached through collaboration between both the public and private sectors. Key public sector partners included the Department of Electricity and Energy, the Independent Power Producer Office, the National Transmission Company of South Africa, and Eskom.

On the private side, Mulilo's shareholders, Copenhagen Infrastructure Partners and Norfund, provided support alongside the project's equity and financing structure.

Partnership with Reatile Group

Mulilo's partner on the Hartebeesfontein project is the Reatile Group. Sunette Smith, Chief Commercial Officer of Reatile Group, described the financial close as a milestone that goes beyond a single project.

"Reaching financial close on this project is more than a project milestone; it is a tangible demonstration of what South Africa Inc. can achieve when capital, policy, and execution align. With our partner, Mulilo, securing five projects awarded under Bid Window 2, our partnership realises a systematic build-out of the backbone infrastructure South Africa needs to unlock its renewable energy future. We are proud to stand alongside that ambition," Smith said.

The Reatile Group's involvement forms part of a broader partnership with Mulilo that spans multiple projects procured under the same bid window, positioning the two companies as central contributors to the country's battery storage buildout.

Significance for South Africa's Grid

Mulilo chief executive Jan Fourie emphasised the broader implications of the financial close for South Africa's energy transition. "The financial close of the Hartebeesfontein BESS marks an important milestone in the expansion of battery energy storage across South Africa.

As our fifth project to reach financial close in 2026, it reflects the hard work, expertise, and commitment of the Mulilo team, together with our valued partner, the Reatile Group, and stakeholders," Fourie said.

Fourie added that the project would help strengthen grid stability and support the continued growth of renewable energy in the country. "Hartebeesfontein will help strengthen grid stability and support the continued growth of renewable energy, demonstrating the important role of collaboration in advancing South Africa's energy transition," he said.

Mulilo's Broader Portfolio

Mulilo describes itself as a leading South African renewable energy developer and independent power producer, with activities spanning wind, solar and battery storage projects.

The company states its development pipeline exceeds 30 GW. The Hartebeesfontein project represents the latest in a series of financial closes the company has executed this year, with the company having now brought five projects to that stage in 2026 alone.

The concentration of five BESIPPPP Bid Window 2 awards within a single developer marks Mulilo as a significant actor in the country's push to deploy utility-scale battery storage at pace.

The programme through which the project was awarded is specifically designed to bring independent power producers into the battery storage market, adding dispatchable capacity to a grid that has faced sustained pressure from insufficient generation and unreliable supply in recent years.

The Hartebeesfontein facility's proximity to the Hermes Main Transmission Substation is expected to facilitate its integration into the broader transmission network managed by the National Transmission Company of South Africa, the entity with which Mulilo holds the 15-year offtake agreement for ancillary services.

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