Mulilo Energy Secures R7-Billion Facility from Standard Bank to Boost Renewable Energy Growth

Renewable-energy developer and independent power producer Mulilo Energy has secured an initial R1.1-billion corporate facility from Standard Bank, aimed at supporting its equity commitments. The facility comes with potential headroom of up to R5.9 billion, allowing for further allocation as the security pool expands.

The Equity HoldCo Facility is designed to support Mulilo’s strategic growth, providing broader backing for equity participation and guarantees. This 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 as a preferred bidder for four projects in the Free State, aimed at developing 493 MW or 1 972 MWh of battery storage capacity. Additionally, nine of its other large-scale renewable-energy projects are moving towards financial close, according to Standard Bank.

“This facility is about boosting energy security for Africa’s long-term sustainable growth. It enables Mulilo to scale, 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 been awarded multiple projects, reinforcing 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 the company and reaffirms the bank’s confidence in our strategy. Through this collaboration, we can accelerate renewable-energy projects that will drive South Africa’s transition and deliver sustainable value to communities and shareholders,” Fourie added.