Lyra Energy reaches financial close for 255 MW Thakadu solar project in South Africa

The ZAR 4 billion ($240 million) financial close for the 255 MW Thakadu solar project in South Africa secures critical capital for a utility-scale renewable energy asset. This financing, announced on 2026-03-09, moves the project into its construction phase, de-risking the development for Lyra Energy. Standard Bank of South Africa's role as the lender demonstrates strong local financial institution confidence in large-scale solar infrastructure within its home market. Scatec's involvement as a partner in Lyra Energy suggests a strategic alignment to leverage its expertise in developing, building, owning, and operating renewable energy plants in emerging markets. The capital expenditure for this 255 MW facility represents a substantial investment in South Africa's energy transition. Standard Bank of South Africa, a leading African financial services institution headquartered in Johannesburg, reinforces its regional infrastructure financing capabilities across 20 African countries by backing the Thakadu solar project. Lyra Energy, an energy company focused on developing and operating infrastructure projects, adds a substantial 255 MW solar asset to its portfolio, progressing from concept to construction in South Africa. Scatec ASA, a renewable energy solutions provider, extends its reach in emerging markets through its partnership in Lyra Energy, furthering its mission to accelerate access to reliable clean energy. This ZAR 4 billion financing for a 255 MW solar facility in South Africa confirms continued investment appetite for utility-scale renewable energy assets in the region.