• Stanlib Asset Management raises 5 billion rand ($295 million) in the first close of its Khanyisa fund for clean energy.

• Fund already invests in 14 operational renewable assets under South Africa’s REIPPPP program.

• Khanyisa targets 18 billion rand ($1 billion) to finance renewables, decentralized solutions, green hydrogen, and electric mobility infrastructure.

Stanlib Asset Management secured 5 billion rand ($295 million) in the first close of Khanyisa, its fund dedicated to clean energy, Engineering News reported on March 18. The capital comes from long-term investors supporting a just energy transition.

“The first close of the fund marks an important milestone for Stanlib and the Standard Bank group as we leverage our capabilities to mobilize more development capital in the country,” said Johan Marnewick, head of private fixed-income markets.

Launched in November 2023 with initial financing from Standard Bank and Liberty, Khanyisa channels capital toward South Africa’s energy infrastructure. The fund has already invested in 14 operational assets under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

Khanyisa aims to raise 18 billion rand ($1 billion) to finance projects across renewables, decentralized energy solutions, green hydrogen, and electric mobility infrastructure. The fund’s growth reflects accelerated investment in green energy in South Africa, where installed renewable capacity reached 133 GW in 2024, up from 66 GW in 2023, according to the SAREGS survey.

Despite these efforts, coal still generates nearly 81% of South Africa’s electricity, according to the National Energy Regulator of South Africa (NERSA) in a September 2025 report. REIPPPP remains the main framework for developing independent renewable electricity projects in the country.

This article was initially published in French by Abdoullah Diop

Adapted in English by Ange J.A de Berry Quenum