Johannesburg, South Africa – Renewable-energy developer and independent power producer Mulilo Energy has secured a major financial boost with an initial R1.1-billion corporate facility from Standard Bank, with potential expansion of up to R5.9 billion as the security pool grows.
The Equity HoldCo Facility is designed to strengthen Mulilo’s strategic growth, supporting equity participation and guarantees. The funding will enable the company to advance its pipeline of renewable-energy projects, including initiatives under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), battery energy storage systems, and private offtake agreements with aggregators and traders.
Earlier this year, Mulilo was named a preferred bidder for four projects in the Free State, targeting the development of 493 MW or 1,972 MWh of battery storage capacity. In addition, nine other large-scale renewable-energy projects are moving toward financial close, according to Standard Bank.
“This facility is about boosting energy security for Africa’s sustainable growth. It enables Mulilo to scale operations, deliver on its pipeline, and contribute meaningfully to job creation, regional development, and energy security,” said Rentia van Tonder, head of power at Standard Bank Corporate and Investment Banking.
Over the past 18 months, Mulilo has secured multiple projects, cementing its role as a key contributor to South Africa’s energy transition, said Jan Fourie, CEO of Mulilo.
“Securing the R7-billion facility is a milestone for Mulilo and underscores the bank’s confidence in our strategy. This partnership allows us to accelerate renewable-energy projects that will drive South Africa’s energy transition and deliver sustainable value to communities and shareholders,” Fourie added.
