Stanlib to Invest $160 Million in Africa Renewables Via New Fund
- Forms part of Standard Bank push to address Africa funding gap
- Starts with South Africa, to expand across Africa over 2 years
Wind turbines in Gouda, South Africa.
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
Stanlib Asset Management Ltd., one of Africa’s largest investment firms, aims to deploy 3 billion rand ($160 million) to help address a funding gap for major renewable energy initiatives across the continent.
The Khanyisa Energy Transition Fund is using initial investment from Stanlib’s sister companies Standard Bank Group Ltd. and Liberty Holdings Ltd. It will start with South Africa and then seek assets across Africa within two years, said Johan Marnewick, head of credit alternatives at Stanlib.