<\/p>\n
Standard Bank has partnered with Anthem to finance the Notsi renewable energy project, a 475MW solar photovoltaic facility in the Free State that is expected to be South Africa\u2019s largest single-phase solar project.<\/p>\n
The bank confirmed this week that it has been appointed co-mandated lead arranger, coordinating lead arranger, and will also act as facility agent, account bank, guarantee-issuing bank and hedging bank.<\/p>\n
Listen\/read: STANLIB\u2019s Energy Transition Fund reaches its first close at R5bn<\/p>\n
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Standard Bank\u2019s executive vice president of energy and infrastructure Vincenzia Leitich said the project highlights the bank\u2019s ability to structure complex energy deals.<\/p>\n
\u201cIt\u2019s scale and complexity speak to our capacity to deliver bespoke solutions\u2026 The Notsi project meets both goals and we are proud to have played a pivotal role in its finalisation,\u201d she said.<\/p>\n
Anthem, one of South Africa\u2019s largest independent power producers, has more than 2GW of wind, solar and hydro projects in operation or under construction.<\/p>\n
Once operational, the project is expected to generate approximately 1.5 million megawatt-hours of clean electricity annually, enough to supply around 140 000 households.<\/p>\n
The electricity will primarily be sold to commercial and industrial users through long-term power off-take agreements with Discovery Green and NOA Group.<\/p>\n
Read:\u00a0Discovery Green and Glencore in 20-year renewable energy deal<\/p>\n
\u201cWe are thrilled to continue to partner with Standard Bank. The Notsi project supports the growing aggregator market, enables corporate decarbonisation and supports South Africa\u2019s transition to lower carbon energy consumption,\u201d said Mike Wickins, chief commercial officer of Anthem.<\/p>\n
The development is aligned with South Africa\u2019s ongoing electricity market reforms, particularly efforts to increase competition, support liberalisation and expand private sector participation through aggregator-led models.<\/p>\n
Phenyo Selinda is a Moneyweb Intern*<\/p>\n
#Standard #Bank #backs #SAs #largest #singlephase #solar #project<\/p>\n","protected":false},"excerpt":{"rendered":"
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