Standard Bank finances Solarcentury Africa's renewable projects

Standard Bank, a major South African financial institution, has signed a financing agreement with Solarcentury Africa, a renewable energy company operating in Southern Africa. The agreement includes a potential funding envelope of up to 370 million USD, with 86.2 million USD already committed to support the expansion and repayment of existing projects.

Funding targets solar expansion in Zambia

Part of the funds will be used to expand the Mailo solar power plant in Zambia, increasing its power capacity by 59 MWp. The financing will also help repay a previous loan that supported Solarcentury Africa's initial power plants, which use a "merchant" model, selling electricity to various buyers or on the regional market instead of relying on a single long-term contract.

Standard Bank's previous support and renewable projects

Before this agreement, Standard Bank had already provided 40 million USD to Solarcentury Africa in 2025. The bank has also supported other renewable energy projects in the region, including the Koruson 1 wind complex in South Africa and several solar projects totaling 506 MW. In 2025, the bank mobilized 39.9 billion rands (approximately 2.4 billion USD) for renewable energy projects across its markets.

Bank emphasizes flexible financing for growth

Sherrill Byrne, head of project financing at Standard Bank, stated that the bank is pleased to support Solarcentury Africa with a flexible credit line, enabling the company to continue expanding its renewable energy projects across Southern Africa. This initiative aligns with the bank's goal of offering innovative financing solutions for the evolving African energy market.

Solarcentury Africa's future goals

With this new support, Solarcentury Africa aims to reach 500 MW of renewable energy installations by 2030. Recently, the company announced a 112 MWp solar project intended mainly for the mining operations of First Quantum Minerals in Zambia.

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