Anthem Achieves Financial Close on Notsi Solar PV Project in South Africa
Cape Town, South Africa, 5 March 2026 – Anthem, one of the largest renewable energy investment holding businesses and independent power producers in South Africa, has successfully completed the financial closing of its ambitious Notsi solar photovoltaic (PV) project. With a capacity of 475MWac (620MWdc), this project is now the largest solar PV installation in South Africa, poised to provide substantial power to the commercial and industrial sectors through partnerships with Discovery Green and NOA.
Project Overview and Scale
The Notsi project covers an impressive area of over 1000 hectares, featuring more than 860,000 solar panels. To put this into perspective, the land utilized is comparable to over 1,000 rugby fields or more than 40 runways at Cape Town or OR Tambo International Airports. The annual energy output is projected to reach approximately 1,500,000 MWh, enough to supply electricity to about 140,000 homes each year.
Long-Term Vision and Partnerships
Anthem serves as the lead investor, developer, and long-term operator for the Notsi Project, collaborating with Reatile Group as its equity partner. The construction is anticipated to be completed within 26 months. Notably, the project adopts a multi-offtaker wheeling model, utilizing agreements with Eskom for power transmission through the national grid and facilitating the trading of energy with its long-term partners.
James Cumming, CEO of Anthem, emphasized the project’s significance, stating, “Notsi epitomizes the progress of solar energy wheeling in South Africa. It’s designed to provide cost-effective wholesale power to the private market while supporting grid upgrades on behalf of Eskom and NTCSA.”
Support from Local Institutions
Simphiwe Mehlomakulu, Founder and Executive Chairman of Reatile Group, highlighted their commitment to sustainable infrastructure, noting the partnership’s role in enhancing energy security and facilitating the transition to renewable energy.
Financial Backing and Construction Partners
The financing of the Notsi project was managed by a consortium of distinguished lenders, including Standard Bank, Nedbank, ABSA, Vantage GreenX Note III, and Third Way Investment Partners. Additionally, a joint venture consisting of the China Energy Engineering Corporation (CEEC) and the Northwest Electric Power Design Institute (NWEPDI) has been engaged as the Engineering, Procurement, and Construction (EPC) contractor.
Socio-Economic Impact and Local Development
Beyond energy production and job creation, the Notsi Project is set to make a positive socio-economic impact through targeted investments during its operational phase, guided by thorough needs assessments to ensure effective allocation of resources.
Enhancing Competitiveness in the Energy Market
Andre Nepgen, CEO of Discovery Green, remarked that reaching financial close will bring significant renewable energy capacity to the grid, aiding businesses in achieving long-term price stability and a clear decarbonization pathway.
Karel Cornelissen, Group CEO of NOA, expressed enthusiasm about the project’s role in advancing South Africa’s competitive renewable energy market, noting its contribution to a diverse portfolio of generation capacity that aims to provide long-term clean energy solutions for commercial and industrial clients.
A Continued Commitment to Renewable Energy
The Notsi project represents a continuation of collaborative efforts among various energy and finance partners. With over a gigawatt of solar and wind projects already operational or under construction, Anthem is committed to expanding its impact in the energy sector. Cumming concluded, “Our model enables broader access to clean electricity for a spectrum of commercial and industrial customers and is a pivotal step towards energy security and socio-economic benefits.”
