Mulilo Energy, a renewable-energy developer and independent power producer, has successfully secured an initial R1.1 billion corporate facility from Standard Bank to support its equity commitments. An additional R5.9 billion can be accessed as the security pool expands, facilitating the company’s growth ambitions.
The Equity HoldCo Facility is specifically designed to bolster Mulilo’s strategic expansion, offering support for equity participation and guarantees. This funding will enable the company to advance a pipeline of renewable-energy projects, including those under the Renewable Energy Independent Power Producer Procurement Programme, battery energy storage systems, and private offtake agreements.
Project Developments
Earlier this year, Mulilo was named a preferred bidder for four projects aimed at developing 493 MW or 1,972 MWh of battery storage capacity in the Free State province. Additionally, nine other large-scale renewable-energy projects are progressing towards financial close.
The facility aims to enhance energy security in Africa, promoting long-term sustainable growth. It allows Mulilo to scale its operations, execute its project pipeline, and contribute significantly to job creation and regional development.
Leadership Statements
Mulilo’s CEO has highlighted that securing this R7 billion facility is a significant milestone for the company, reaffirming Standard Bank’s confidence in its strategic direction. This collaboration is expected to accelerate renewable-energy projects, further aiding South Africa’s energy transition and delivering sustainable value to communities and shareholders.
Overall, this partnership underscores Mulilo Energy’s role as a key player in South Africa’s energy transition, enhancing its ability to contribute to the nation’s renewable energy landscape.