Standard Bank, Africa’s largest bank by assets and the parent company of Stanbic Bank Ghana, has once again solidified its leadership in sustainable finance by delivering a landmark $110 million equity financing solution to H1 Holdings, a pioneering Black-owned infrastructure investment and development company.
The deal, valued at R1.92 billion, underscores Standard Bank’s commitment to accelerating Africa’s energy transition and supporting innovative infrastructure that delivers both economic and environmental value.
Structured and executed by Standard Bank Corporate Investment Banking, the transaction enables H1 Holdings to facilitate the exit of previous investors—British International Investment (BII), the Industrial Development Corporation (IDC), and Norfund—while reinforcing its position as a dominant force in Africa’s clean energy sector.
At the heart of the financing deal lies H1 Holdings’ 49% interest in the Kenhardt hybrid battery and solar risk mitigation projects, a groundbreaking initiative that represents Africa’s largest hybrid renewable energy cluster and ranks among the biggest in the world.
Hybrid systems combine multiple energy sources—such as solar and battery storage—to produce consistent and reliable electricity. This approach compensates for the variability of renewable energy generation, offering not only significant carbon reduction benefits but also enhancing grid stability and minimizing power outages.
“The transaction demonstrates our role in structuring complex equity financing solutions that aim to support infrastructure development and deliver value to stakeholders,” said Calvin Alwar, Deal Lead, Structured Capital at Standard Bank.
“We are proud to have partnered with H1 Holdings on this and look forward to collaborating further on this transformative project as they continue to shape the future of energy in Africa.”
Reshaping the Future of Energy Financing
The deal marks a fundamental shift in how renewable energy equity financing is structured in Africa. The transaction demanded a novel approach to managing high gearing levels and addressing the narrow window of bankability common in large-scale renewable projects.
Standard Bank’s innovative financial engineering enabled H1 Holdings to optimize its capital structure while ensuring the project’s long-term sustainability. By doing so, the bank has positioned itself as a catalyst for unlocking new models of energy financing that balance profitability with environmental responsibility.
This deal also reaffirms the growing confidence in Africa’s renewable energy potential. As global investors increasingly prioritize Environmental, Social, and Governance (ESG) metrics, Standard Bank’s involvement signals a maturing market that is capable of handling complex, large-scale clean energy projects with world-class financial sophistication.
H1 Holdings: A Vision Driven by Sustainability
Founded with the purpose of improving lives through cleaner energy solutions, H1 Holdings has built an impressive portfolio in the renewable energy sector. The company’s assets include 24 energy projects with a combined generation capacity of 2.8 gigawatts (GW) and storage capacity of 1.14 gigawatt-hours (GWh).
This latest partnership with Standard Bank marks another bold step in H1 Holdings’ mission to accelerate Africa’s green energy transition and promote inclusive participation in the sector.
“We are thrilled to partner with Standard Bank on this milestone transaction,” said Jonathan Muller, Head of Asset Management at H1 Holdings.
“Their expertise in the energy sector, innovative approach to structuring, and unwavering commitment to our objectives enabled a novel technical solution that made this deal possible. Kenhardt is a flagship project for us, and this financing solution ensures we can continue to deliver sustainable energy solutions at scale.”
Jonathan Muller
The Kenhardt project is not just a symbol of renewable innovation—it represents a new phase in Africa’s clean power transformation. Once fully operational, the hybrid system will provide reliable, emission-free power to thousands of households and industries, significantly reducing reliance on fossil fuels.
By integrating solar power with advanced battery storage technology, Kenhardt ensures continuous energy supply even during non-sunlight hours, addressing one of the continent’s biggest energy challenges—intermittent power.
This model of hybrid generation could become the blueprint for future projects across Africa, where energy demand continues to outpace supply.
Moreover, the project aligns with South Africa’s Just Energy Transition framework and the African Union’s Agenda 2063, both of which prioritize sustainable development and energy inclusion.
Driving Inclusive Growth and Climate Resilience
Beyond the technical and financial innovation, the deal highlights Standard Bank’s dedication to fostering inclusive economic growth. By partnering with a 100% Black-owned company like H1 Holdings, the bank is helping to empower local businesses, build capacity, and ensure that the benefits of Africa’s energy transition are shared equitably.
The renewable energy sector, particularly in hybrid systems, is expected to create thousands of jobs in construction, maintenance, and technology. It will also contribute to energy security, enabling industries to operate more efficiently and sustainably.
With Africa facing increasing climate-related vulnerabilities, projects like Kenhardt underscore the importance of resilience-building through clean energy investments.
As the continent races toward its renewable energy goals, partnerships like that between Standard Bank and H1 Holdings demonstrate the power of collaboration in overcoming financial and technical challenges.
Standard Bank’s $110 million equity financing is more than a transaction—it’s a statement of intent: that Africa’s energy future will be green, inclusive, and powered by innovation.
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