Investec, Led By Fani Titi, Seeks Electricity Trading License

Investec seeks NERSA license to trade solar power from Illikwa PV Facility, marking its entry into South Africas deregulated electricity market.

Lender plans to wheel renewable energy via Eskom grid to Sandton HQ, cutting emissions without infrastructure ownership.

CEO Fani Titi positions Investec to broker corporate PPAs, supporting energy security and clean power growth across the private sector.

Investec Group, the Anglo-South African international banking and wealth management conglomerate led by South African executive Fani Titi, has applied to South Africas National Energy Regulator NERSA for an electricity trading licensemarking its entry into the countrys fast-evolving private energy sector.

If approved, the lender will purchase power from the Illikwa Solar PV Facility in the Free State and transmit it to its corporate headquarters in Sandton via Eskoms infrastructure, under a wheeling agreement. Investec Bank hereby notifies that a licence application has been lodged with NERSA to trade electricity, the company said. The move positions Investec among the first major South African banks to tap into renewable energy trading amid national grid constraints.

The Johannesburg-based firm plans to secure solar-generated electricity through a Generation Purchase Power Agreement GPPA with the 2022-registered Illikwa PV Facility near Parys. The energy will be wheeled through Eskoms grid to Investecs Grayston Drive offices.

Wheeling arrangements allow companies to access clean power without direct infrastructure ownership, enabling large corporates to lower carbon emissions while stabilizing power supply. This model enables the financial flow of electricity without requiring ownership of the transmission network, Investec noted in its application, showcasing a broader shift towards distributed energy models.

Beyond powering its own operations, Investecs application outlines ambitions to act as an intermediary between independent power producers and corporate buyers through Corporate Power Purchase Agreements CPPAs. The strategy aligns with South Africas efforts to deregulate its energy market and improve energy security.