Standard Bank, Stanlib to launch R19bn renewables fund
Standard Bank and its asset management subsidiary Stanlib are set to launch a renewable energy fund that aims to raise as much as $1 billion over three to five years for investment in wind, solar and green hydrogen projects in SA and rest of the continent.
Kenny Fihla, the CEO of Standard Bank’s corporate and investment banking unit, says Standard Bank will inject an initial R2 billion to seed the fund while Stanlib will allocate an additional R1 billion. The aim is to crowd in additional funding from institutional investors and potentially development finance institutions with the ultimate ambition to grow the fund’s total assets.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
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