Financial services group Rand Merchant Bank (RMB) has helped South African independent power producer (IPP) SOLA Group raise a R2.8-billion debt and equity package for its 150 MW multi-offtake solar photovoltaic (PV) project near Virginia, in the Free State. The project is one of the first multi-buyer programmes in South Africa and is expected to reach commercial operations under several power purchase agreements (PPAs) in the middle of 2025.