Johannesburg, South Africa – 02 October 2025 – POWERX, South Africa’s first licensed, private electricity trader, today announced that it has signed a dedicated guarantee facility underwritten by Lombard Insurance Company Limited and managed by Credeq Africa, a specialist underwriting manager. The facility is designed to support the rapid growth of the private power market by providing the guarantees required for project development and execution.
The first guarantee under the facility has already been issued, supporting one of POWERX’s signed Power Purchase Agreements (PPAs). This milestone marks the beginning of a series of guarantees to be rolled out against a strong and maturing pipeline.
POWERX’s current pipeline:
- 15 MW already under construction
- 25 MW, for which a Lombard guarantee has been issued, currently in the process of reaching financial close with Standard Bank
- 24.5 MW Solar PV Project, in advanced financial close discussions, with Nedbank as the Mandated Lead Arranger and Lender
- A further 160 MW expected to reach financial close before the end of 2025, with an additional 400 MW targeted for the subsequent year
“Standard Bank is pleased to be working with the Parsons Power Park in Gqeberha. The guarantee facility provided by POWERX is one of the key steps required for the project to reach financial close,” said Sherrill Byrne, Head of Project Finance at Standard Bank.
Alongside this development, POWERX is already trading over 100 GWh of renewable energy per annum, directly connecting renewable generation with corporates and commercial and industrial demand.
“Guarantees are often the missing link between a signed PPA and real megawatts on the grid,” said Thembani Bukula, CEO of POWERX. “This facility with Lombard, through Credeq, enables us to accelerate delivery for our customers and generation partners. With projects already in construction and financial close processes under way, we are moving from intent to execution at scale.”
Technology-driven leadership
Since 2017, POWERX has operated its own proprietary trading platform – a sophisticated system that dynamically allocates generation to consumers, integrates with multiple sources of supply, and connects seamlessly with diverse billing systems. This technology provides unmatched transparency and efficiency in South Africa’s emerging private power market.
Through its trading activities, POWERX has already delivered more than R13 million in savings for its customers. Importantly, its model enables green energy access for businesses that would otherwise have had to raise capital for their own renewable sites – or even relocate to areas where renewable wheeling is possible, risking significant job losses. By bridging this gap, POWERX keeps industry competitive, protects employment, and expands the reach of South Africa’s energy transition.
Why it matters
South Africa’s private power market is scaling quickly as corporates demand reliable, cost-competitive and lower-carbon electricity. By securing dedicated guarantee support, POWERX is positioned to compress project timelines and reduce counterparty risk – ensuring that PPAs translate into construction, financial close, and ultimately, electrons on the grid.
About POWERX
POWERX has been trading electricity in South Africa for over a decade and is the first company to be licensed by NERSA as an independent electricity trader. As a pioneer in the sector, POWERX aggregates renewable generation and supplies commercial and industrial customers via bankable, flexible structures that simplify wheeling across the grid.
About Lombard Insurance Company Limited & Credeq Africa
Lombard is a leading African specialist insurer in guarantee and surety, with deep expertise in the energy sector. The facility is underwritten by Lombard Insurance Company Limited and managed by Credeq Africa, a specialist underwriting manager providing tailored solutions across the project lifecycle.
“By understanding the nuances of the market, the specific requirements of the client and beneficiary, the underlying agreements, and the triggers for non-performance, we were able to structure a guarantee product that best suits our client’s needs and complements the underlying contractual obligations,” said Mark Massey, Senior Underwriter at Credeq.
Media enquiries
POWERX
Tim Shamrock, Business Development Executive
📧 tim@powerx.energy | 📞 079 804 9378
Credeq Africa
Sharlenee Naidoo, Marketing
📧 sharlenee.naidoo@credeq.com | 📞 011 551 0600
