A renewable energy platform (Lyra) is a partnership between Scatec, Standard Bank, and Stanlib.
Scatec owns 50% and the partners own the remaining 50%.
Lyra announced it signed power purchasing agreements (PPA) with three offtakers, for a 255 Megawatts Thakadu project.
The company offers power solutions for medium and large commercial and industrial (C&I) users.
Terje Pilskog, CEO of Scatec, said “the announcement of Lyra Energy’s first solar plant in South Africa is a milestone for this trading platform. Securing offtake agreements with private sector customers for the Thakadu project demonstrates the growing appetite amongst businesses for reliable, cost-effective clean power. Our aggregator model is making renewable energy more accessible, helping South African companies reduce costs and emissions while supporting the country’s energy transition.”
Scatec is expected to provide Engineering, Procurement, and Construction (EPC), as well as Asset Management (AM) and Operations & Maintenance (O&M) services for the project.
The power plant will be built in two phases, with the first in the current quarter of 2026.
Eben de Vos, Head of Lyra, said “we’re proud to launch the Thakadu solar power plant with strong commercial and industrial partners onboard. By pooling resources and offering flexible, risk-managed contracts, Lyra Energy is empowering businesses of all sizes to benefit from large-scale renewable energy. This project is a testament to the strength of our partnership and our commitment to building a sustainable future for South Africa,” says
Capital expenditures (capex), financing structure, and Scatec’s EPC-scope will be provided at financial close.