Standard Bank's pioneering solutions to SA’s energy crisis

SA’s intermittent power supply is significantly hindering small businesses and jeopardising economic growth and jobs in a country where the unemployment rate is already at a staggering 38%.

Most of the country’s electricity is supplied by Eskom via a fleet of coal-fired power stations. The power utility is struggling to keep the lights on due to a combination of factors, including ageing infrastructure, mismanagement and corruption.

Growth and partnerships

The world’s deepening climate crisis has made the push for innovation and stronger international scientific collaboration urgent in the quest to find sustainable clean energy solutions.

Standard Bank is focused on providing financial products and services that support positive environmental, social and governance outcomes, including green and social loans and bonds, sustainable trade and working capital solutions and impact investing.

Embedding key sustainability goals into the founding arrangements of transactions aligns with Standard Bank's purpose of driving Africa's growth. These goals have a significant impact on the growth of markets in which the bank operates. They address energy poverty, reduce reliance on fossil fuel-based energy, and tackle key social challenges in SA.

The bank aims to disburse R250bn by 2026 in sustainable financing to clients and has mobilised 29 sustainable finance lending facilities worth more than R51bn across six sectors. Additionally, it has arranged more than R2bn for three sustainable finance bonds to external clients and raised more than R14bn for three National Treasury transactions, across the bank’s footprint in a sustainable format. 

In addition, Standard Bank has partnered with Riskscape to develop the LookSee solar score, an innovative online tool for SA homeowners. This free-to-use platform considers individual property conditions to determine the feasibility of solar power.

The power of the platforms: PowerPulse

Standard Bank's PowerPulse platform is designed to revolutionise energy production, delivery and consumption in SA. By assessing the viability of alternative energy sources for clients and connecting them with trustworthy engineering, procurement and construction providers, PowerPulse accelerates the decentralisation of energy systems. This efficient and competitive engagement facilitates cost savings and promotes sustainable energy solutions for businesses. 

Recognising the importance of the procurement process in transitioning to renewable energy, PowerPulse empowers clients to make well-informed decisions based on trust, credibility and data, ensuring a successful journey towards sustainability with the right partners.

SA’s (and Africa’s) growth 

Corporate energy seekers looking to renewable energy solutions, also have a partner to walk the journey with. The bank is contributing to SA’s growth by accelerating the adoption of renewable energy solutions in several ways.

Through pioneering platforms such as PowerPulse and LookSee, the bank will continue to transform various essential industries through digitisation, ideation and ambition to realise SA's potential.

This article was sponsored by Standard Bank.