Standard Bank has partnered with Anthem to provide the financing for the Notsi renewable energy project, South Africa’s largest single-phased solar photovoltaic (PV) facility, to achieve financial close.
The 475 MW project, situated in the Free State province, reached this milestone in March 2026 and is structured to supply clean electricity primarily to the commercial and industrial sectors.
The facility will deliver power through long-term offtake agreements with Discovery Green and NOA Group, two prominent renewable energy aggregators serving corporate and commercial customers.
This aggregator-led model supports South Africa’s ongoing electricity market reforms by promoting competition, market liberalisation, and increased private-sector participation in the energy value chain.
Financing Structure and Standard Bank’s Role
Standard Bank acted as a co-mandated lead arranger and performed multiple roles in the transaction:
- Coordinating lead arranger
- Facility agent
- Account bank
- Guarantee issuing bank
- Hedging bank
This comprehensive involvement enabled Standard Bank to structure a bespoke financing solution tailored to the project’s scale, complexity, and risk profile.
The bank’s multi-faceted mandate reflects its established expertise in renewable energy project finance and its leadership in South Africa’s growing aggregator market.
The financing supports the full development, construction, and operational phases of the project, ensuring that Notsi can deliver reliable, cost-competitive clean energy to its corporate and industrial offtakers.
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Project Impact and Expected Outcomes
Once operational, the Notsi facility is projected to generate approximately 1.5 million megawatt-hours of clean electricity annually, sufficient to power around 140,000 households.
This output will displace a significant volume of fossil-fuel-based generation, contributing directly to South Africa’s decarbonisation objectives and reducing reliance on coal-fired power.
The project advances several strategic priorities:
- Corporate decarbonisation: enabling large commercial and industrial users to meet sustainability targets through verifiable renewable energy procurement.
- Energy market liberalisation: expanding the role of private-sector aggregators in the electricity supply chain.
- Economic and social benefits: supporting job creation during construction and operation, and improving energy reliability for businesses.
Vincenzia Leitich, Executive Vice President, Energy and Infrastructure at Standard Bank, commented:
“We are immensely proud to have worked with Anthem to finalise the Notsi project. Its scale and complexity speak to our capacity to deliver bespoke 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, solution and fund transactions of this nature.”
Mike Wickins, Chief Commercial Officer of Anthem, added:
“We are thrilled to continue to partner with Standard Bank, an organisation that shares our passion for sustainable energy solutions at scale. By supplying renewable energy to corporate and commercial off-takers, the Notsi project supports the growing aggregator market, enables corporate decarbonisation and supports South Africa’s transition to lower-carbon, more sustainable energy consumption.”
Broader Significance for South Africa’s Energy Transition
The Notsi project exemplifies the increasing role of private-sector-led renewable energy development in South Africa.
By channelling capital through aggregator-led offtake models, it facilitates greater private participation in the electricity market, diversifies the generation mix, and supports the country’s transition toward a lower-carbon energy system.
The transaction highlights Standard Bank’s leadership in structuring complex renewable energy financings and Anthem’s ability to deliver large-scale sustainable energy solutions to corporate and commercial clients.
Together, they demonstrate how targeted financing can accelerate deployment of utility-scale solar PV while addressing both environmental and economic objectives.
Future Outlook
Standard Bank and Anthem’s partnership in financing the 475 MW Notsi solar PV project represents a landmark achievement for South Africa’s renewable energy sector.
As the largest single-phase solar facility to reach financial close, Notsi will deliver substantial clean electricity to the commercial and industrial segments, supporting corporate decarbonisation, energy reliability, and market liberalisation.
This transaction reinforces the critical role of innovative financing structures and aggregator models in advancing South Africa’s sustainable energy transition.
For the latest project updates or details on offtake arrangements, refer to official statements from Standard Bank, Anthem, Discovery Green, or NOA Group.
Standard Bank Group Overview
The Notsi solar project location is in South Africa’s Free State province, and Standard Bank recently said the project has a planned generation capacity of 475 MW.
Standard Bank Group offers Standard Bank online banking for account access, transfers, and bill payments, while the Standard Bank app provides similar banking services on mobile devices.
For Standard Bank Customer Care, the South Africa general contact number listed is 0860 123 000, with additional support channels available on its contact page.
To open a Standard Bank account, customers can start the application online, and the bank says eligibility depends on factors such as age, South African ID, and residency status.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
