BB Energy completes first merchant solar asset and begins trading through SAPP

Mailo is now fully operational and actively trading renewable electricity through the Southern African Power Pool (SAPP), a first for the Group and a first for the SAPP platform.

Completion of the Mailo project and entry into the SAPP trading ecosystem heralds a watershed moment for BB Energy that will underpin the company’s move into renewable energy trading and power trading. Delivering this project and securing access to new finance, means BB Energy will now embark on an ambitious plan to roll out over 500 MWp worth of power projects across southern Africa.

This milestone represents three major firsts for BB Energy:

• The first-ever solar infrastructure project designed, built, completed, and operated by the Group.
• The first time BB Energy is trading electricity, applying decades of energy trading expertise to renewable power.
• The first debt financing secured for the Group’s growing energy transition portfolio, with a US$40 million loan from Standard Bank, supporting the construction of Mailo Phase 2, now underway.

This is a pivotal development in BB Energy’s long-term energy transition, which balances continued growth in physical trading with credible, scaled investments in low-carbon projects. Mailo demonstrates that the Group is not only committed to transition, but has the capability to originate, build, operate, and trade renewable energy at speed and at scale.

Mailo represents a new dimension to BB Energy’s core strengths. As one of the world’s most experienced physical energy traders, BB Energy is now leveraging its expertise in producing, transporting, storing, and distributing conventional energy to operate and trade renewable electricity – an increasingly vital commodity in a region still dominated by ageing coal-fired generation assets, on a continent where nearly 600 million people still live without access to electricity.

The Mailo project is also the first dedicated merchant solar power plant to trade power directly into the SAPP – the competitive regional electricity market that connects utilities and large customers across Southern Africa. This model enables BB Energy to sell clean power into day-ahead, hourly, and intra-day markets, as well as via bilateral contracts.

The plant, located on 204 hectares in the Mailo Chiefdom, has now begun delivering over 60 GWh of clean power annually, enough to supply 25 000 homes and displace over 2 million t of CO2 over its lifetime. The project phases are as follows:

• Mailo Phase 1 (25 MWp): Completed and trading through SAPP (now operational).
• Mailo Phase 2 (35 MWp): Now under construction, with site capacity to reach 60 MWp within a few months.
• Mailo Final Phase: Full expansion to 118 MWp by 2027.

Alongside Mailo, construction is also progressing on Gerus solar PV in Namibia. Together, these two plants mark the start of Solarcentury Africa’s planned 500 MWp merchant solar portfolio, focused on building flexible, financeable renewable generation assets across the SADC region.

BB Energy has secured a US$40 million loan from Standard Bank to finance Mailo Phase 2 – the first dedicated energy transition loan facility for the Group. This financing is also part of a broader framework to support the rollout of Solarcentury Africa’s merchant portfolio.

In a further vote of confidence, Standard Bank has joined BB Energy’s Revolving Credit Facility (RCF) for the first time in 2025, signalling growing institutional confidence and alignment with the Group’s strategic direction.

Mohamed Bassatne, Group CEO, BB Energy, commented: “Mailo is a landmark for our Group. It’s the first time we are delivering renewable power generation, trading electricity in a regional market, and financing clean energy assets. This is not just an investment in solar – it is a strategic evolution of BB Energy, and a tangible step forward in our transition journey.”

Jacques Erni, Group CFO, BB Energy, added: “This announcement marks a step-change for BB Energy’s transformational energy transition journey. We are grateful to Standard Bank for its trust and partnership. Their support is an important endorsement of both the Mailo facility and our wider renewable energy plans. We are building a serious, scalable merchant power business, and this financing is a cornerstone of that effort.”

Eng. Stephen Dihwa, Executive Director, SAPP, concluded: “We are thrilled to witness this historic milestone for SAPP, as Solarcentury Africa commissions the first dedicated merchant solar power plant to trade power on the platform. This achievement marks a significant step towards accelerating renewable energy generation and advancing sustainable power trading across the region.”

Fact file about the Mailo solar plant:

• Capacity: 25 MWp of clean, reliable solar power rising to 118 MWp in Phase 3.
• Development timeline: Developed, funded, and built in less than a year.
• Clean energy output: Over 60 GWh annually – enough to power 25 000 homes based on average household consumption in Zambia.
• Emissions offset: Some 60 000 tpy of CO2, over 2 million t over the lifetime of the project the equivalent of taking nearly 20 000 cars off the road in Zambia.
• Job creation: Over 400 local jobs created during construction and operations.
• Community support: Agreement in place with the local community to ensure it benefits financially from the Mailo plant, transforming the lives of people in the area.
• Climate resilience: Supports sustainable energy and Zambia’s diversification away from reliance on hydro power output.
• Offtake: Part of Solarcentury Africa’s merchant power portfolio.

Construction was undertaken by Alensy Energy Solutions of Namibia.

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