Standard Bank helps fund SA’s biggest renewable energy and battery storage project
The R18bn project will provide 540MW of solar power for SA’s beleaguered power grid
20 July 2022 - 15:43
Standard Bank and British International Investment (BII) have partnered with renewable power producer Scatec and black-owned investment firm H1 Holdings, to fund what is set to be Africa’s biggest and SA’s first baseload renewable energy project.
The partners said in a joint statement on Wednesday that they had reached financial close on the R18bn battery energy storage and photovoltaic (PV) solar project, which is the first to be agreed on under the government’s Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP)...
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