Anthem Secures Financial Close for Landmark 475-MW South African Solar Plant to Power 140,000 Homes

Anthem secures funding for Notsi solar farm, South Africa’s largest PV project, featuring a 20-year wheeling deal with Discovery Green and NOA.

By: AXL Media

Published: Mar 6, 2026, 4:31 AM EST

Source: The information in this article was sourced from Renewables Now

Anthem Finalizes Investment for South Africa’s Premier Solar Installation

The renewable energy sector in Sub-Saharan Africa has reached a significant milestone with Anthem achieving financial close on the Notsi solar project. Spanning over 1,000 hectares in the Free State province, the facility is engineered to accommodate more than 860,000 solar panels, making it the most expansive solar farm in South Africa to date. Anthem, which launched its operations in 2025, serves as the primary investor and developer, bringing together a robust equity partnership with the Reatile Group to drive the project toward its 26 month construction phase.

Lending Consortium Backs Massive Scale Clean Energy Infrastructure

Securing the necessary capital for a project of this magnitude required a coordinated effort from a diverse group of lenders and financial arrangers. The financing package was anchored by prominent institutions including Standard Bank, Nedbank, and ABSA, alongside specialized investment firms such as Vantage GreenX Note III and Third Way Investment Partners. This financial backing ensures the project can proceed with the China Energy Engineering Corporation (CEEC) and the Northwest Electric Power Design Institute (NWEPDI) serving as the primary engineering, procurement, and construction contractors.

Innovative Wheeling Model Reshapes Industrial Energy Procurement

The Notsi plant is distinguished by its application of a multi-offtaker wheeling model, a strategic shift from traditional centralized power distribution. Under this framework, the 1,500 GWh of annual generation will be transmitted across the Eskom grid but sold directly to private commercial and industrial consumers. Long-term offtake agreements, spanning 20 years or more, have already been established with energy traders Discovery Green and the renewables firm NOA, providing a stable revenue stream for the asset while offering price certainty to South African businesses.