Standard Bank, Meridiam drive energy investment in Africa

Standard Bank Group, Africa’s largest bank by assets, has partnered with Meridiam, an independent investment benefit corporation, to unlock new investment opportunities in alternative energy infrastructure across the continent. This collaboration continues to build on a four-year partnership that has focused on advancing renewable energy projects and fostering economic growth across Africa.

Meridiam, which has been active in Africa since 2015, deepened its commitment last year by acquiring BTE Renewables’ assets in Kenya. The company now operates and develops 250 MW of onshore wind and solar projects in the country. “Given our unrivalled footprint across the continent, we are regularly looking to work with partners that share our vision for building this continent that we call home,” says Zen Dlamini, Head of Public Sector and Infrastructure at Standard Bank.

The joint event held by Standard Bank and Meridiam in Johannesburg brought together corporate executives, government representatives, and media stakeholders under the theme of “Unlocking Public Infrastructure Investment in South Africa.” It reflected on the progress made while highlighting the work that still needs to be done to address Africa’s energy and infrastructure challenges.

The strategic partnership is seen as pivotal for the continent’s growth, particularly following the recent signing of South Africa’s Electricity Regulation Amendment Act by President Cyril Ramaphosa. This Act, aimed at reforming the nation’s energy sector, enables further private sector participation and opens the door for increased investment in renewable energy. Thierry Déau, founder and Chief Executive of Meridiam, states, “We are singularly focused on funding projects that advance the growth and development of African countries, and with Standard Bank, we have a partner in sync with our vision.”

The collaboration between Standard Bank and Meridiam is a significant step towards addressing the continent’s infrastructure deficit, particularly in the energy sector. As the demand for reliable and sustainable energy grows, such partnerships will be instrumental in creating the necessary conditions for long-term development. “The SA government is on a reform journey that requires cross-societal support, and partnerships like these are encouraging offshoots that contribute to the growth needed to get to our destination,” says Rudi Dicks, Head of the Project Management Office in the Presidency.

Standard Bank and Meridiam are committed to continuing their work across Africa’s energy sector, with plans to leverage further opportunities in sustainable infrastructure projects. As both companies remain focused on fostering growth, their collaborative efforts are seen as crucial to transforming Africa’s energy landscape and meeting the continent’s future infrastructure needs.

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