Standard Bank powers South Africa's renewable energy future with Du Plessis Solar PV2 project.

Etana Energy, a majority black-owned NERSA-licensed energy trader is on a mission to accelerate the growth of solar energy in South Africa that benefits business customers, the country and the planet. The Du Plessis Solar PV2 project exemplifies collaboration, co-developed by Mulilo and H1 Holdings, leaders in South Africa’s renewable energy sector, with Etana Energy as the offtaker. This milestone was made possible through a  groundbreaking R1 billion payment guarantee from Standard Bank and a $100 million payment default guarantee framework, provided by GuarantCo, part of the Private Infrastructure Development Group (PIDG), and British International Investment (BII), the UK’s development finance institution and impact investor. This innovative framework ensures revenue certainty for independent power producers (IPP ) by providing payment security essential for IPPs to secure funding at a project level, unlocking the potential for large-scale renewable energy projects across the region.

The successful financial close of the Du Plessis Solar PV2 project, achieved shortly after the closing of the Standard Bank/GuarantCo/BII payment guarantee, marks a new era for renewable energy locally. We are proud to lead the charge, using our financial expertise and industry insights to unlock opportunities for aggregators and independent  power producers and accelerate the development of clean energy infrastructure.

Our expertise in structuring complex financing solutions and structuring and leading the aggregator space through innovation and our understanding of the sector  played a critical role in bringing this deal to fruition. Leveraging our deep knowledge of the energy sector and our ability to facilitate partnerships, we empowered Etana Energy to pioneer a scalable business model, paving the way for multibillion-rand renewable energy projects. This project demonstrates our commitment to delivering tailored financial solutions that drive progress and create lasting impact.

More than just a power plant, the Du Plessis Solar PV2 project is an incentive for economic and social development. By adding 75MWac of clean energy capacity, it will reduce South Africa’s reliance on fossil fuels, lower carbon emissions and contribute to the country’s climate goals. It also creates jobs, stimulates local economies and provides reliable energy to businesses, fostering resilience and growth in key industries.

Our involvement aligns with our purpose of driving Africa’s growth through sustainable development. By financing renewable energy initiatives such as Du Plessis Solar PV2, we are helping to address energy security, promote environmental stewardship and empower communities across South Africa.

Looking ahead, we remain committed to supporting innovative projects that drive sustainable growth and create shared value for our clients, communities and the environment. The Du Plessis Solar PV2 project is just the beginning. Together, we are powering a brighter, greener future for South Africa.