Standard Chartered advises Norfund on NOK850 million investment into renewable energy platform in South Africa

26 September 2025, London – Standard Chartered today announced its role as sole financial adviser to Norfund on its NOK850 million equity investment in Anthem, a newly created renewable energy platform. Norfund, the Norwegian investment fund for developing countries, invests in companies with strong potential to generate economic and social development impact through job creation and the services they offer.

Anthem is one of South Africa’s largest renewable energy companies, with a secured portfolio of more than 2.7GW across 17 operating wind and solar projects of over 1GW, four projects under construction of 445MW, three projects in financial close of 1.2GW, and a further 11GW pipeline under development.

The Climate Investment Fund is investing NOK685 million directly, while KLP Norfund Invest (KNI) is investing NOK170 million. KNI is the joint investment company of KLP and Norfund, owned 51% by Norfund and 49% by KLP. Mahlako Energy Fund, an investment and advisory firm owned 100% by Black South African women, is also joining as an investor.

The transaction reinforces Standard Chartered’s position as a leading connector bank, providing global cross-border mergers and acquisitions advisory services, and enabling clients to achieve their investment goals in the global energy sector.

“Our global footprint enables us to connect international capital to compelling renewable energy infrastructure investment opportunities, and we were delighted that Norfund asked us to draw on our strong track record of clean tech M&A mandates to provide them with advice on this transaction,” said Henrik Raber, Global Head, Global Banking at Standard Chartered.

“This transaction demonstrates Standard Chartered’s unique capability in connecting Nordic and European investors with impactful global investment opportunities that support sustainable growth. We look forward to supporting Norfund with future global projects,” added Sverre Hana, CEO & Head of Banking & Coverage, Nordics at Standard Chartered.

“Standard Chartered’s comprehensive advice allowed us to secure this long-term investment opportunity that will drive positive transformation across the South African economy,” commented Bjørnar Baugerud, Head of The Climate Investment Fund at Norfund.

Visit here for more information on Anthem.

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For further information please contact:

Mark Roberts
Executive Director, Corporate Affairs, Brand and Marketing, Europe & Americas
Standard Chartered
+44 (0)7788654564
mark.roberts@sc.com

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