Lira Energy, a joint venture between Skytech, Standard Bank and Stanlib in South Africa, has secured financial close for the Takado Solar Power Plant and has commenced construction of the 255MW facility.
Scatec owns 50% of the renewable energy platform, with the remaining 50% owned by Standard Bank and Stanlib.
With initial construction beginning, the second phase of the Takado project is scheduled for the latter half of 2026.
The capital cost (capex) of the solar plant is about R4bn ($240m).
The funding will be sourced through a mix of undistributed project debt and equity contributions from its owners, with a target profitability of 80%.
Standard Bank serves as the senior lender for this initiative.
Scatec is responsible for providing engineering, procurement and construction (EPC) along with asset management and operations and maintenance services for the Takado project.
The EPC scope managed by Scatec represents approximately 80% of the total project capex.
The first phase will be commercially operational in the first half of 2027.
“This marks an important milestone for the Lira Energy and Takado project. With the private sector contract in place and financing secured, the project is well positioned for construction and delivery,” said Scatec chief executive Terje Pilskog.
Last month, Lira Energy signed power purchase agreements with three major commercial and industrial consumers covering a significant portion of the Takado plant.
Lira Energy aims to provide low-risk and flexible power solutions to medium to large commercial and industrial users through its flexible contracting framework.
“Lyra Energy Begins Construction of 255 MW Takado Solar Facility” was originally developed and published by Power Technologies, a brand owned by Global Data.
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