Standard Bank has partnered with Anthem to fund the Notsi renewable energy project, South Africa’s largest single phased solar photovoltaic (PV) project to reach financial close.
The Notsi renewable energy project is located in the Free State and has a generation capacity of 475 MW. The electricity generated by the facility will supply mainly the commercial and industrial sectors through long-term power offtake agreements with Discovery Green and NOA Group.
Standard Bank was appointed as co-mandated Lead Arranger, coordinating Lead Arranger and will also serve as facility agent, account, guarantee issuing and hedging bank.
“We are immensely proud to have worked with Anthem to finalise the Notsi project. Its scale and complexity speak to our capacity to deliver customised solutions for our clients that address big societal challenges and reflect our position as a leader in the renewable energy aggregator market. Our role in this transaction reinforces the strong level of trust our clients place in us to structure solutions and fund transactions of this nature. At Standard Bank, we believe in sustainable energy solutions that help drive the growth of Africa. The Notsi project meets both goals and we are proud to have played a pivotal role in finalising its funding,” says Vincenzia Leitich, Executive Vice President, Energy and Infrastructure, Standard Bank.
Anthem is one of the largest Independent Power Producers in South Africa, with over 2 GW of wind, solar and hydro projects in operation or construction.
Mike Wickins, Chief Commercial Officer at Anthem comments: “Standard Bank as an organisation shares our passion for sustainable energy solutions at scale and we are thrilled to continue to partner with the bank. Supplying renewable energy to corporate and commercial offtakers, the Notsi project supports the growing aggregator market, enables corporate decarbonisation and supports South Africa’s transition to lower‑carbon, more sustainable energy consumption. We look forward to continuing our work in sustainable energy with solar, wind, hydro and battery storage projects that make meaningful change to people’s lives.”
The project directly advances South Africa’s electricity market reform objectives by promoting competition, supporting market liberalisation, and enabling greater private‑sector participation through an aggregator‑led offtake model.
Once completed, the facility is expected to generate around 1.5 million megawatt-hours of clean electricity annually – equivalent to energy supply to serve around 140 000 households each year.
For more information visit: www.standardbank.co.za