The financial close was secured with support from Standard Bank, which structures a market-forming payment guarantee facility on  behalf of NOA Trading. The facility enables NOA to reduce the amount of equity capital tied up as credit support under generator power purchase agreements, accelerating the rollout of additional projects in its pipeline.

“This is more than just a project milestone – it’s an evolution in how we finance renewable energy at scale in South Africa. The guarantee facility enables us to deploy equity more efficiently, ensuring the rapid rollout of projects while supporting liquidity across our development pipeline,” says Karel Cornelissen, CEO of NOA. Ongoing grid constraints in resource-rich areas remain a challenge to project rollout but the company is actively investing in battery energy storage systems to improve load shifting and optimise clean energy exports from its sites, Cornelissen says.

NOA acquired the Khauta project from Pure New Energy last year. Early works began at the beginning of 2025 with full construction expected to commence in the fourth quarter of this year. Commercial operation is scheduled for the first quarter of 2027. Electricity will be exported to the Eskom grid via an overhead line to the Leander substation. Khauta West is expected to come online earlier in the fourth quarter of 2026.