Lesedi Power Company

What Lesedi Power Company does

Lesedi Power Company operates the Lesedi Power Project, a utility-scale solar photovoltaic power generation plant located at Groenwater, approximately 30 km east of Postmasburg in the Northern Cape Province of South Africa. The plant uses polycrystalline PV modules with a net installed capacity of 64 MWAC and generates approximately 140 GWh of clean electricity per annum, evacuating power to Eskom's 132 kV distribution grid. At the time of financial close, the project was among the largest project finance transactions ever completed in South Africa and one of the most extensive renewable energy projects in continental Africa.

The company was selected by South Africa's Department of Energy in the first round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPP) and executed a 20-year Power Purchase Agreement (PPA) with Eskom in November 2012. Commercial operations commenced on May 21, 2014. Ownership is held by a consortium of investors including Intikon Energy, AIIM, Kensani Capital, SolarReserve, and GCL, with the entity structured as a private project-finance vehicle. Revenue is generated exclusively through electricity sales to Eskom under the PPA, with no direct consumer pricing or alternative offtake arrangements disclosed.

In parallel with power generation, Lesedi operates contractual Socio-Economic Development (SED) and Enterprise Development (EnD) programmes targeting communities within a 50 km priority radius, including the Tsantsabane and Kgatelopele municipalities. The company has reported more than 35% local content in procurement and more than 30% preferential procurement with BBBEE providers. The head office is in Sandton, Gauteng, while the plant site, operated at Humansrus Farm in the Northern Cape, sits in one of the highest-irradiance regions globally, providing a structural site-quality advantage.

Name

Lesedi Power Company

Legal name

Lesedi Power Project

Website

https://lesedipv.com

Company type

Private

Founded year

2012

Operating status

Operating

Short description

Lesedi Power Company operates a 64 MWAC utility-scale solar photovoltaic plant in the Northern Cape Province of South Africa, selling approximately 140 GWh of electricity per annum to Eskom under a 20-year REIPPP Round 1 Power Purchase Agreement executed in November 2012.

Ownership category

akta.pro rank

Product category

Utility-Scale Solar Power Generation

NAICS

Solar Electric Power Generation (221114)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Solar power generation
• Renewable energy
• Independent power production
• Utility-scale solar
• Clean energy supply

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Others

Revenue model

1. Electricity Generation and Sale: The Lesedi Power Project generates clean electricity from its 64 MWAC solar PV plant and sells it to Eskom under a 20-year government-supported Power Purchase Agreement (PPA). Revenue is derived from electricity generation and supply to the national grid, with approximately 140 GWh/annum energy production.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Lesedi Power Company operates a 64 MWAC utility-scale solar photovoltaic power plant in the Northern Cape Province of South Africa. The company generates approximately 140 GWh of clean electricity per annum and supplies it to Eskom, South Africa's national electricity utility, under a 20-year Power Purchase Agreement secured through the country's REIPPP programme.

Product overview

Lesedi Power Company operates the Lesedi Power Project, a utility-scale solar photovoltaic power generation plant. The core product is the 64 MWAC solar PV facility located in the Northern Cape Province of South Africa, which generates clean electricity fed into the national grid. Supporting this core energy generation product are two community investment programmes: the Enterprise Development Programme focused on SMME support and economic growth, and the Socio-Economic Development Programme focused on community welfare and development. These programmes are contractual obligations under the REIPPP programme and represent the company's approach to combining renewable energy production with local economic upliftment.

Differentiator

Problem solved

Functional benefit

Products and services

• Lesedi Power Project Solar PV Plant A 64 MWAC utility-scale solar photovoltaic power generation plant located in Groenwater, Northern Cape Province, South Africa, using polycrystalline modules. The plant produces approximately 140 GWh of clean electrical energy per annum, with power evacuated to the 132kV distribution grid network via a 20-year Power Purchase Agreement with Eskom, the national electricity utility.

Quantifiable outcome

• Powers approximately 65,000 South African homes
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor and core.

• Petra Diamond and Jasper Power ProjectminorStrategic or Co-development Partner · 1 January 2020Co-funded the construction, furniture and tools required for the Danielskuil Technical School's new technical curriculum alongside Lesedi Power Project.
• Jasper Solar Power ProjectminorStrategic or Co-development Partner · 1 June 2017Jasper Power Project and Lesedi Power Project jointly hosted a SMME Expo in Postmasburg on 23rd June 2017 to acknowledge SMMEs who completed the mentorship and coaching training programme.
• Kgatelopele Local MunicipalitycoreStrategic or Co-development Partner · 1 January 2017Public-Private Partnership for the Danielskuil Trader's Hub Project. Lesedi and the municipality worked together to support small businesses and facilitate their mainstreaming into the local economy. The municipality provided land and commitment while Lesedi undertook market research, feasibility studies, and facilitated the project development.

Scale indicators8 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Droogfontein Solar Power: Utility-scale solar PV IPP in South Africa operating under a Round 1 REIPPPP 20-year PPA with Eskom. Closely comparable in business model, scale, regulatory framework, and South African offtaker exposure.
• SolarReserve: Investor in the Lesedi Power Project and CSP/solar IPP developer with a presence in South Africa. Highly comparable as both a co-shareholder of Lesedi and as a utility-scale solar developer/operator in the same market.
• Jasper Solar Power Project: 96 MW solar PV plant in the Northern Cape, also a Round 1 REIPPPP winner selling electricity to Eskom under a 20-year PPA. Directly comparable in technology, offtaker, geography, and revenue model; Lesedi and Jasper have jointly hosted SMME expos.

Broad incumbents

• Engie Africa: French multinational utility with renewable energy projects in South Africa under REIPPPP. Comparable in IPP-of-record structure and Eskom PPA exposure, but operates a much broader and more diversified portfolio.
• ACWA Power: Saudi-listed IPP developer with South African renewable energy projects including the Redstone CSP project. Operates as a global utility-scale power developer with a portfolio approach and is comparable in project finance, REIPPPP participation, and 20-year PPA structures.
• Scatec ASA: Norwegian-listed renewables developer with multiple utility-scale solar PV plants in South Africa under REIPPPP PPAs. Operates a broader African and global portfolio and is a more diversified incumbent peer in the same regulatory and offtake framework.
• Enel Green Power: Global renewable energy developer with historical South African wind and solar PV investments through REIPPPP. Comparable in utility-scale solar PV under long-dated Eskom PPAs, though with a much larger global portfolio.
• Globeleq: Africa-focused power developer and operator with a portfolio of renewable and thermal assets across the continent, including South Africa. Comparable in operating model and project finance approach, though more diversified geographically.

Regional players

• Mulilo Energy Holdings: South African-focused renewable energy developer with utility-scale solar PV and wind assets under REIPPPP and private offtake arrangements. Directly comparable in geography, technology, and offtaker structure.
• Solar Capital: South African renewable energy developer and operator with multiple utility-scale solar PV projects under REIPPPP PPAs. Closely comparable in scale, geography, and 20-year Eskom PPA structure.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lesedi Power Company