Standard Bank has closed a R1,92 billion equity financing solution enabling H1 Holdings to consolidate its 49 interest in the Kenhardt hybrid renewable cluster. The facility is Africas largest hybrid solar and battery energy storage project and among the biggest globally, Standard Bank says.
The financing package, structured by Standard Bank Corporate and Investment Banking, enables the exit of investors British International Investment, the Industrial Development Corporation and Norfund.
H1 Holdings controls a broad infrastructure portfolio exceeding 2,8 GW of generation and 1,14 GWh of storage capacity across 24 projects.