Sturdee Energy, a Johannesburg-based development company, has announced the financial close of the Bela Bela solar project, with an installed capacity of 91.2 MW DC (75 MW AC). The facility will be located in Limpopo Province and is expected to deliver approximately 209 GWh annually through a wheeling agreement with a major gold mining operation.
This project represents a significant milestone in Sturdee Energy’s portfolio, which now exceeds 200 MW in combined operational and development capacity. The developer did not disclose the financial institutions involved in the deal, but construction is expected to begin imminently.
Increased support from Nordic institutional investors
Since 2024, Sturdee Energy has received growing support from Scandinavian institutional actors. In December 2024, the Danish Investment Fund for Developing Countries (IFU) and Swedish agency Swedfund jointly invested USD44mn in equity into the company, with a focus on South African projects.
On March 26, 2025, the Danish embassy announced an additional USD22mn investment by IFU aimed at boosting Sturdee Energy’s investment capacity. The contribution could mobilise up to USD66mn more, further strengthening the company’s regional position in the energy sector.
A project aligned with the country’s energy transition
The Bela Bela project is part of South Africa’s efforts to diversify its energy mix, historically dominated by coal. The agreement with an industrial site reflects a growing trend among private operators to secure off-grid energy alternatives.
Among its key objectives, the facility will prevent the emission of approximately 143,000 tonnes of CO₂ annually, or more than 4mn tonnes over an estimated 30-year lifespan. This metric offers a competitive advantage for industrial clients facing increasing pressure over energy and environmental performance.
A growing regional strategy
Sturdee Energy is actively pursuing a regional development strategy, with ongoing projects in Namibia and Botswana. Nordic institutional backing has enabled the company to accelerate its entry into these emerging markets.
The Bela Bela project also marks IFU’s first direct investment under South Africa’s Just Energy Transition Partnership (JETP), an international programme supporting the country’s energy transition through targeted public-private partnerships.
