Standard Bank will act as the lender and agent for the Equity HoldCo Facility, with an initial R1.1 billion commitment to support Mulilo’s equity requirements. A further R5.9 billion can be allocated as the security pool expands, raising the total potential commitment to R7 billion.

Unlike traditional project-specific financing, this innovative facility has been designed to provide broad support for Mulilo’s strategic growth. It will empower the company to accelerate delivery of its ambitious pipeline, enabling equity participation, guarantees, and enhanced flexibility to pursue projects across multiple technologies and markets.

This pipeline 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. Earlier this year, Mulilo was named as the preferred bidder 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.

“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 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 business 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.