Standard Bank Accelerates South Africa’s Energy Future by Financing NOA’s Clean Power Projects

Through strategic project financing and structured financing solutions, the bank is enabling NOA to rapidly scale its renewable energy portfolio and deliver green power to businesses across South Africa. NOA Group is helping revolutionise the country’s energy landscape by aggregating renewable energy sources and providing reliable, cost-effective green power to large energy consumers. Standard Bank is playing a pivotal role in this transformation, providing the financial expertise and innovative solutions necessary to unlock NOA's potential.

To date, the bank has been the sole mandated lead arranger and underwriter for approximately R15 billion in debt financing–related facilities across NOA Group generation. 

The partnership with NOA has achieved significant milestones in a short period:

• September 2024: Closed financing on the 140MW Ishwati Emoyeni Wind Farm, developed by ACED, with NOA as the offtaker
• December 2024: Closed financing on the 94.5MW Wind Garden project, NOA's first wholly owned large-scale wind energy project
• June 2025: Closed financing on the 348.5MW Khauta South Solar PV facility, elevating NOA's portfolio to well over 500MW of installed generation capacity
• June 2025: Closed financing on a NOA Group Trading payment guarantee facility, unlocking ~900MW in generation payment security

The Khauta South Solar PV facility, with an installed capacity of 348.5MW, is a landmark project in South Africa's renewable energy sector. Standard Bank acted as sole mandated lead arranger and underwriter, providing R4.17 billion in project financing. This is the single largest solar photovoltaic (PV) project to reach financial close in South Africa, and 100% of the energy generated will be purchased by NOA Group Trading.

Standard Bank's commitment extends beyond financing infrastructure. The bank is helping to create an independent, scalable and resilient energy ecosystem for South Africa's businesses and industries. By providing access to green power, NOA is reducing pressure on Eskom and lowering carbon intensity, contributing to a more sustainable future for the nation.

Executive Vice President, Energy and Infrastructure at Standard Bank Corporate and Investment Banking Nicholas Knott-Craig said, “Our partnership with NOA is a showcase of what leadership in energy finance looks like. Deal by deal, we are helping build one of the most significant new energy platforms in the country.”

Executive Vice President, Energy and Infrastructure at Standard Bank Corporate and Investment Banking Vincenzia Leitich added, “From zero to over 500MW of generation capacity in under 9 months, NOA’s success is also a reflection of our ability to lead the market with fit-for-purpose financial solutions that deliver real impact.”

Standard Bank’s expertise in navigating complex regulatory landscapes and structuring innovative financing solutions makes it the ideal partner for companies driving the energy transition.

As a leader in structuring bankable deals in the evolving private energy market, Standard Bank is pioneering financial solutions that enable players such as NOA to scale rapidly and sustainably. The bank remains committed to supporting innovative projects that drive sustainable growth and create shared value for its clients, communities and the environment.

Together with NOA, Standard Bank is powering a brighter, greener future for South Africa.