Mulilo secures $400 million funding from Standard Bank

September 15, 2025

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Independent power producer Mulilo has obtained $400 million in loan funding from Standard Bank, Africa’s largest lender by assets. Unlike previous project-based financing, this facility is structured at the corporate level, giving Mulilo the flexibility to expand a portfolio that spans utility-scale renewables, battery storage and private-sector PPAs.

  • This funding marks a new phase for renewable energy financing in South Africa, raising the bar as the sector’s growing attractiveness continues to draw capital. Standard Bank has been a leading player in driving this momentum.

  • As South Africa rolls out policy changes in the power sector, new opportunities are emerging across the supply chain. The transmission network is expected to attract more than $25 billion in investment over the next decade.

  • Our take: Mulilo now has the flexibility to target major energy consumers with long-term PPAs aggressively… Read more (2 min)

Consumers in Gambia can now access solar power without paying the full cost up front. The West African country has introduced its first pay-as-you-go solar program to expand electricity access. The model allows rural households, which often lack the cash for large upfront purchases, to make small, flexible payments, opening access to more people.

  • Pay-as-you-go (PAYGo) solar technology was pioneered in Kenya and has enabled millions in rural areas to gain electricity access, establishing Kenya as a leader in off-grid solar.

  • For low-income countries such as Gambia, where only about 10% of the rural population has electricity, PAYGo is a game-changer. However, as with any new technology, it is likely to face initial resistance and trust issues with consumers.

  • Our take: Providers should prioritise awareness, clear pricing and strong after-sales support to build trust and confidence in the model… Read more (2 min)

Off-grid solar company Sun King has grown its sales team by 15%. It onboarded 55 senior staff hires in the period between September 2024 and September 2025, bringing the total number of senior sales staff to 370. The number of senior staff in the company now stands at 1,322, according to LinkedIn data analysed by Renewables Rising.

  • Sun King has the highest number of senior sales employees out of the 30 top renewables companies we monitor every month. The growth rate of its sales team in the past year is also the largest.

  • In our weekly job listings, Sun King has been on a hiring spree for most of August and early September. It has advertised over 20 positions across Africa in the past two weeks alone.

  • Our take: Sun King will continue to identify and enter high-potential regions to grow its customer base.… Read more (2 min)

Scatec Board visits Nagaa Hammadi, Egypt, to see Obelisk solar and storage works and meet the local team

Events

🗓️ Sign up for ECOWAS Sustainable Energy Forum (ESEF) 2025 (Sep 18)

🗓️ Attend the 3rd ESKOM Clean Energy Conference (Oct 7)

🗓️ Be at the 1st Biomass Briquettes Energy Conference 2025 (Oct 30)

Jobs

💼 Join Sun King as a Contact Centre Team Manager (Malawi)

👨🏻‍💼 Spearhead Burn Manufacturing’s Territory sales operations (Madagascar)

👩🏻‍💼 Apply for SunCulture’s Business Development Associate role (Kenya)

Various

💸 Ethiopia sets in motion $30 billion infrastructure program

🌀 Hive Hydrogen secures permit for 1000MW Carissa wind farm

☀️ Maamba Energy Ltd to develop 100 MW solar power plant in Zambia

Seen on LinkedIn 

Oluebube Nwosu, Senior Business Analyst (Business Strategy) at Falcon Corporation Limited, says, “The extent of capital and risk in energy investments require either a level of de-risking or high energy prices. This is why energy subsidies still matter.”