Nov 28 (Reuters) - South African renewable energy company Pele Green Energy said on Thursday it reached a financial close for a Solar Plant with Glencore's (GLEN.L) , opens new tab South African ferroalloys unit and its joint venture partner Merafe Resources (MRFJ.J) , opens new tab.

The deal, valued at 2.1 billion rand ($116 million) according to Bloomberg News, will see the development of the Sonvanger Solar PV Power Plant in the Free State province of South Africa.

The Sonvanger Solar PV Power Plant, a 100 MW facility will contribute to South Africa’s clean energy transition, Pele Energy said.

Glencore, Merafi and Pele did not immediately respond to a request for a comment.

Nedbank Group and Absa Group will provide debt financing, with Pele Green Energy contributing equity, according to Pele’s Managing Director Gqi Raoleka, as reported by Bloomberg.

($1 = 18.1042 rand)

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https://www.reuters.com/business/energy/glencore-agrees-solar-plant-deal-with-pele-green-energy-2024-11-28/