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Airnergize Capital owned by South African businessman Khudusela Pitje’s New GX Capital, has secured a R750 million ($43 million) equity investment from Standard Bank, Africa’s largest bank by assets, to accelerate renewable power, storage, water and gas infrastructure across the country.
Standard Bank confirmed the deal through its Corporate and Investment Banking unit. The capital will be directed into Sustainable Power Solutions (SPS), one of Airnergize Capital’s core utilities. SPS develops, owns, and operates commercial and industrial solar and battery storage assets in South Africa and in several sub-Saharan African and Indian Ocean markets.
Accelerating clean power access
Airnergize Capital is black-owned and controlled, with a focus on building clean and reliable supply for businesses and industry, while delivering measurable environmental impact.
“This partnership marks a key milestone in our commitment to Africa’s infrastructure transition,” said Willem Els, Vice President, Equity Investments at Standard Bank CIB. “We are positioning capital where it can unlock real supply, not just ambition.”
Arnold van Wyk, Head of Equity Investments at Standard Bank CIB, said the bank chose Airnergize because of its track record and ability to deploy capital into operating assets with near-term results.
Pitje: “This is about real projects, not concepts”
Khudusela Pitje, founder and group CEO of New GX Capital, said the investment gives the platform greater capacity to build the projects African economies need now.
“We are pleased to attract a Pan-African financial institution of this calibre,” Pitje said. “This gives us the ability to look at transactions across Africa with scale.”
Tebatso Modiba, Deal Executive at Airnergize Capital, said: “Our team is excited to drive utilities solutions for a sustainable tomorrow and unlock smart decentralised power.”
Building a clean infrastructure platform
Airnergize Capital is managed by New GX Capital, founded by Pitje in 2005. The firm has interests spanning energy, infrastructure, and technology and has grown into one of South Africa’s most active investment holdings.
Pitje, a chartered accountant and former J.P. Morgan professional, has over two decades of experience in finance, he has co-founded several ventures including DFA and has been recognized as an EY Entrepreneur of the Year award winner.
Recent funding momentum
Last month, Airnergize Capital Fund I secured $28 million from Nedbank Corporate and Investment Banking, bringing the fund’s total to $161 million to scale renewable energy, water and gas assets.
In April, New GX Capital and RMB Ventures launched Airnergize Capital Fund I with a R2.4 billion ($137 million) commitment focused on clean technology investments across Southern Africa.
