• Independent power producer Mulilo secured a corporate facility up to 7 billion rand (approximately $400 million) from Standard Bank.
• This facility will support Mulilo's growth strategy across various technologies and markets, unlike project-specific financing.
• Mulilo's portfolio includes REIPPPP projects, large-scale battery energy storage systems (BESS), and private power purchase agreements

On September 11, independent power producer Mulilo announced it secured a corporate facility from Standard Bank, totaling up to 7 billion rand (approximately $400 million). Standard Bank will serve as the lender and agent for the Equity HoldCo Facility, with an initial commitment of 1.1 billion rand to support Mulilo's equity needs. An additional 5.9 billion rand can be mobilized as the guarantee pool expands.

Unlike typical project-specific financing, this facility aims to broadly support Mulilo's growth strategy. It will allow the company to strengthen its capital, provide guarantees, and gain increased flexibility to develop projects across multiple technologies and markets.

The concerned portfolio includes projects from South Africa's public REIPPPP program, large-scale battery energy storage systems (BESS), and private power purchase agreements. Earlier in 2025, Mulilo was designated a preferred bidder for four projects in the Free State province, totaling 493 MW/1972 MWh of storage capacity, which adds to nine other major projects nearing finalization.

"Securing this R7 billion facility marks a decisive step for Mulilo. It confirms Standard Bank's confidence in our strategy and growth trajectory while giving us the flexibility to implement our project portfolio," stated Jan Fourie, CEO of Mulilo Energy Holdings.

In South Africa, the energy transition largely relies on independent power producers. Through REIPPPP and battery storage development, these private players have become essential for diversifying the energy mix and reducing electricity outages. Mulilo fully aligns with this dynamic, mobilizing new financing to accelerate the deployment of renewable energy.

This article was initially published in French by Abdoullah Diop

Adapted in English by Ange Jason Quenum