Eaglestone Advises Red Rocket South Africa on the Virginia Solar PV Project

Eaglestone is pleased to announce that it has acted as financial advisor to Red Rocket South Africa (Pty) Ltd on the Virginia Solar PV Project which achieved Financial Close on 30th April 2024 under Round 6 of the South African Renewable Energy Independent Power Producer Procurement Programme, with a total project cost of ZAR 4.7 billion. Eaglestone has also advised on the raising of ZAR 180 million BEE funding for one of the shareholders in that project, Jade-Sky.

With a capacity of 275MWDC, this is not only the REIPPPP’s largest solar project to date, but it is also the largest grid-connected solar project in Africa.