Renewable energy developer Mulilo has secured a R7 billion facility from Standard Bank to finance its pipeline of renewable energy projects across South Africa. The bank will act as the lender and agent for the Equity HoldCo Facility, with an initial commitment of R1.1 billion allocated to support Mulilo’s equity requirements.
Standard Bank will extend a further R5.9 billion, to be allocated as the security pool expands, bringing the total potential commitment to R7 billion. The funding will accelerate delivery of Mulilo’s project pipeline, enabling equity participation, guarantees, and enhanced flexibility to pursue projects across multiple technologies and markets.
Unlike traditional project-specific financing, the Standard Bank facility to Mulilo has been designed to provide broad support for the company’s strategic growth.
“Securing the R7 billion facility is a pivotal milestone for Mulilo,” says Jan Fourie, Chief Executive Officer of Mulilo Energy Holdings. “It affirms Standard Bank’s confidence in our strategy and growth trajectory while providing us with the flexibility to scale, diversify, and deliver on our pipeline of high-impact renewable energy projects.”
Mulilo renewables expansion drive
Mulilo has a pipeline that includes Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) projects, large-scale Battery Energy Storage Systems (BESS) and private off-take agreements with aggregators and traders. The company was awarded for four projects in the Free State province that will deliver 493 MW / 1,972 MWh of new battery storage capacity. These projects complement nine other large-scale renewable projects progressing towards financial close.
The renewable energy developer has undergone a significant transformation since Copenhagen Infrastructure Partners (CIP) acquired a stake in the company two years ago. Over the past 18 months, the company has consistently won and advanced major projects, cementing its role as a key contributor to South Africa’s energy transition.
“This facility is not just about financing, it’s about adding to much-sought energy security through a partnership between organisations that value Africa’s long term sustainable growth,” says Rentia van Tonder, Head of Power at Standard Bank Corporate and Investment Banking.
“It enables Mulilo to scale, deliver on its pipeline, and contribute meaningfully to job creation, regional development, and energy security,” she concludes.
