Solarcentury Africa is pleased to announce it has signed an innovative five-year mini-perm debt facility with Standard Bank South Africa for up to US$370m with a first committed tranche of US$86.2 million. The facility will be utilised for Solarcentury Africa’s portfolio of merchant power plants in Southern Africa and has been structured to support the continued rapid roll out of new
renewable energy generation capacity in the region.
Standard Bank South Africa acted as the Mandated Lead Arranger for the facility, supported by the Dutch entrepreneurial development bank FMO which is taking up a significant portion of the first tranche on syndication. Solarcentury Africa’s parent company BB Energy has supported the facility on a limited recourse basis.
The first tranche of the facility will be used to refinance the current bridge loan provided by Standard Bank South Africa to help fund the construction of Solarcentury Africa’s initial merchant solar plants, all of which are now operational, and fund the third 59 MWp phase of the Mailo solar plant in Zambia, taking the total capacity of Mailo to 120 MWp.
The facility has been structed as an uncommitted accordion with the potential to increase the total facility size up to US$370m. This provides Solarcentury Africa with a relatively flexible and quick to deploy funding solution for its pipeline of other merchant power plants.
The transaction builds on Solarcentury Africa’s growing presence in Zambia and its strategy of developing, financing, owning and operating renewable energy assets across Southern Africa. Solarcentury Africa is targeting to have 500 MW of renewable assets under ownership in Southern Africa by 2030, which we are well on track to achieve.
Solarcentury Africa comment
“The signing of this facility is an important milestone for Solarcentury Africa and for the continued expansion of the Mailo solar plant. We are delighted to strengthen our relationship with Standard Bank and to welcome FMO as a financing partner. The facility will also support the continued roll out of further projects across our 500 MW+ Southern African pipeline, delivering more clean, reliable and competitively priced power across the region.” - Jason de Carteret, CEO of Solarcentury Africa.
Standard Bank South Africa comment
“Financing merchant renewable energy projects requires tailored structures to address market risk. Standard Bank is pleased to support Solarcentury Africa with a facility that provides flexible financing while enabling the company to continue growing its renewable energy portfolio across Southern Africa. This transaction reflects our commitment to delivering practical and innovative
financing solutions for Africa’s evolving energy market, and we welcome FMO’s participation in the first tranche alongside Standard Bank’s underwriting commitment.” - Sherrill Byrne, Head Project Finance at Standard Bank
About Solarcentury Africa
Solarcentury Africa is the leading renewable energy developer with over a decade of experience delivering solar PV and energy storage projects across Africa. Headquartered in the UK with offices in Zambia and Namibia, the company specialises in smart energy technologies that deliver cost effective clean, reliable power to businesses, utilities and communities. Solarcentury Africa is part of the BB Energy Group.
About BB Energy
Founded in the 1960s, BB Energy is one of the world’s leading independent energy trading group, with major trading hubs in Houston, London, Geneva, Dubai and Singapore, and a presence in around 20 countries. The Group employs approximately 420 people worldwide. BB Energy’s expanding renewable energy activities form a core part of its long-term strategy to support the global energy transition while continuing to ensure efficient energy supply. For more details: bbenergy.com
About Standard Bank South Africa
The Standard Bank Group is the largest African bank by assets, operating in 21 African countries, 4 global financial centres and 2 offshore hubs. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB. Standard Bank has a 163-year history in South Africa and started building a franchise outside southern Africa in the early 1990s. Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth. As at 30 June 2026, Standard Bank Group had 19.5 million clients, employed over 50 000 people (including Liberty) and had over 1 200 points of representation and over 5 600 ATMs across the African continent. The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 19.7% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets. For more details: standardbank.com
For further information, please contact: enquiries@solarcenturyafrica.com
