Standard Bank supports Mercury Battery Energy Storage Project
17 Apr 2026
Country
South Africa
Year
2026
Sector
Energy and Infrastructure
Business Unit
Project Finance
Specific Role
Co-Mandated Lead Arranger, Lender, Co Hedging Bank and Account Bank
This transaction supports our client’s ambition to expand South Africa’s battery energy storage capacity and strengthen the resilience of the national electricity system. Standard Bank worked alongside Mulilo Energy Holdings (Pty) Ltd and its partners to reach financial close on the Mercury 76MW / 304MWh Battery Energy Storage System project, awarded under BESIPPPP Bid Window 2.
The Mercury Battery Energy Storage System is located in the Viljoenskroon area of the Free State Province and has been developed under a 15‑year power purchase agreement with the National Transmission Company South Africa (NTCSA). The project is designed to provide 76MW of contracted capacity with an energy storage capability of 304MWh, connected via the Mercury Main Transmission Substation.
We were appointed as co- Mandated Lead Arranger, Lender, co- Hedging Bank and Account Bank, and structured senior and subordinated debt facilities, alongside ancillary debt facilities, to support the successful delivery of the project.
The transaction reinforces our long‑standing partnership with Mulilo, its shareholders Copenhagen Infrastructure Partners and Norfund, as well as co‑sponsor Reatile Renewables and a local community trust. Once operational, the Mercury project is expected to strengthen grid stability, support renewable energy integration and contribute to local economic development within the Moqhaka Local Municipality.
This deal reflects our business unit’s objective of financing infrastructure that supports energy security and economic growth. It also demonstrates how innovative financing and sector expertise can unlock projects that move South Africa’s energy transition forward.