Investec secures 20-year license to trade renewable electricity
One of South Africa’s largest banks, Investec, has obtained a 20-year license to trade electricity. The bank’s first project in this sector will be powering its Johannesburg office.
The license allows Investec to procure electricity from its own sources while using Eskom’s transmission and distribution networks. Entering this market will enable the bank to expand its portfolio of energy solutions, providing consumers with flexible and capital-light access to clean and renewable energy.
According to BusinessTech, Investec will focus on offering clients customized solutions to reduce electricity costs and meet sustainability goals, while simultaneously improving its own financial performance and operational resilience.
The group plans to start with solar power supply to its Sandton headquarters in Johannesburg. In its license application, Investec stated that it will source electricity from the Ilikwa Solar plant, a 50MW solar facility under construction near Parys in the Free State province, and deliver it to its offices at 100 Grayston Drive, Sandton.
Investec has provided Ilikwa Solar with pre-construction financing, as well as debt and equity funding. The newly acquired license will allow the bank to act as a trader between independent power producers and energy consumers.
Energy security and additional revenue
The procurement project is expected to launch in Q2 2026, after which the group will expand its offerings.
“For us, this license is not just about energy. It provides strategic advantage, resilience, and long-term value,” said Mfo Modise, Head of Renewable Energy Trading at Investec.
For South Africa, banks entering the electricity market is part of a broader energy transition. Amid Eskom’s challenges, more consumers are unwilling to rely solely on state utilities for energy security. Mobile operator Vodacom previously received an energy license.
As more renewable energy projects come online next year, South Africa could see the beginning of a more competitive and diversified electricity market.
As we wrote, Revolut applies for full South African banking license entry
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