Name of the Project
Mogobe battery energy storage system (BESS) project.

Location
Northern Cape, South Africa.

Project Owner/s
Scatec will own 51% of the equity in the project, with Perpetua Holding owning 46.5% and a Community Trust holding 2.5%.

Project Description
The project involves the construction of a 103 MW/412 MWh BESS under the first bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP).

Scatec will dispatch power under a 15-year power purchase agreement.

The Department of Electricity and Energy (formerly the Department of Mineral Resources and Energy) issued the request for proposal on March 7, 2023, and bid submission on August 2, 2023.

The BESIPPPP aims to procure 513 MW of battery storage, through the Department of Electricity and Energy, across five specific State-owned power utility Eskom transmission substations, in the Northern
Cape.

Potential Job Creation
Not stated.

Capital Expenditure
An estimated R3.1-billion. The project will be financed by R2.7-billion of nonrecourse project debt. The owners will provide the balance by equity, with Standard Bank of South Africa as mandated lead arranger.

Planned Start/End Date
Not stated.

Latest Developments
Scatec has reached financial close on the project and is making final preparations to start construction of the project.

As part of the power purchase agreement, Scatec will receive payments for making the storage capacity available to the National Transmission Company of South Africa, which will use the capacity to balance the grid.

Key Contracts, Suppliers and Consultants
Scatec (engineering, procurement and construction provider; operations and maintenance and asset management services).

Contact Details for Project Information
Scatec VP investor relations Andreas Austrell, tel +47 974 38 686, andreas.austrell@scatec.com.
Scatec SVP communication and government affairs Meera Bhatia, tel +47 468 44959 or email meera.bhatia@scatec.com.
Perpetua Holding, tel +49 30 629 382590 or email info@perpetua-holding.com.