Standard Bank is making a name for itself in renewable energy finance. Currently projects financed by the lending institution produce more than 40% of the 1,760 MW being produced by Independent Power Producers, (IPP’s), under South Africa’s REIPPP.
The projects financed by Standard Bank total 14 active renewable energy projects delivering power to South Africa’s power grid. These projects are not the only ones financed by the bank, just the ones that are operational; it has also provided additional financing for more renewable energy projects that have yet to come onstream. These projects in the development stage are expected to add another 800 MW of power generation to the national grid in South Africa.
“We remain committed to supporting and growing the power sector, not only in South Africa, but throughout the rest of the continent as well,” said Rentia van Tonder, Head: Renewable Energy, Power and Infrastructure at Standard Bank South Africa. “However, it remains important to choose the right projects that demonstrated the greatest potential to add a sustainable, renewable energy source to that specific country’s grid, with the emphasis on long term partnerships.”