Daniel Palm

Co-Founder and CEO

I’m a structured finance and renewable energy investment professional with over 20 years’ experience in originating, structuring and executing infrastructure transactions across the African continent. As CEO of Merchant Energy, I lead a next generation IPP focused on delivering utility-scale renewable energy assets in South Africa – advancing the energy transition through commercially sound and scalable solutions.

My career has been dedicated to building impactful clean energy platforms, blending entrepreneurial drive with deep financial expertise. I am also CEO of Moshesh Partners, a BEE-aligned renewable energy and clean infrastructure fund manager, that has investments across C&I Solar PV, Large scale wind projects and a gas to power project. I played a lead role in raising and deploying funds such as the R1 billion Clean Energy and Infrastructure Debt Fund with Prescient Asset Managers and the R500 million Solar Equity Fund with Broadreach Capital. I also led the successful R1 billion bond placement for the Touwsrivier CPV project.

From my early days at ABSA Wealth and Barclays GRCB, through to leading capital advisory work at Evolution Africa Capital, I’ve built a strong track record in project finance, deal-making and investor engagement-consistently closing complex infrastructure transactions in challenging markets.

I’m passionate about unlocking Africa’s energy potential through a blend of innovation, financial structuring and trusted networks. Whether supporting greenfield development, navigating the REIPPPP, or structuring bespoke private PPA solutions, I’m focused on scaling the projects that will power Africa’s low-carbon future.

Chris Botha

Co-Founder and Operations Director

I’m a CFA Charterholder and investment professional with over 15 years of experience across corporate finance, project development, and private equity-focused exclusively on renewable energy infrastructure across sub-Saharan Africa.
As co-Founder of Merchant Energy, I help guide the team to develop, own, construct and operate renewable energy projects in South Africa.

As co-Founder of Merchant Energy, I help guide the team to develop, own, construct and operate renewable energy projects in South Africa.

As co-Founder and Principal at Moshesh Partners, I co-lead investments into clean energy assets, bringing together strategic capital and operational expertise to support Africa’s energy transition. My focus lies in identifying commercially viable opportunities in solar, wind, and storage, and structuring investments that deliver long-term value to both investors and communities.

Prior to establishing Merchant Energy and Moshesh Partners, I held senior roles at Evolution Africa Capital and African Alliance, advising on cross-border M&A, capital raising, and project development transactions. I’ve worked across the full transaction lifecycle, from early-stage origination and modelling to execution and portfolio management, with a particular interest in frontier and growth markets.

With a background in financial mathematics, and formal training in investment management, I bring a strong analytical foundation to my work. I’m passionate about building infrastructure that creates lasting impact and I believe Africa is uniquely positioned to leapfrog into a cleaner, more resilient energy future.

Shaun Clark

Platform Investment Partners

I am an investment professional with a primary focus on private equity and telecoms. I have been involved in capital deployment across Africa and Asia throughout his career. Despite an excellent track record within larger institutions I’ve left a promising investment banking career to pursue an entrepreneurial path in 2013.

I joined Absa Capital in 2008 after leaving a technical modeling and forecasting house to assist Absa Capital in building out a newly established infrastructure private equity team, where I developed a deep interest in telecoms. During this time I was one of the youngest transactors within the bank to lead a >USD 100m direct investment on behalf of the bank. These assets included Dark Fibre Africa, where I met Richard.

Post the GFC, Absa consolidated the entire Absa Group private equity and property equity portfolio into a single portfolio forming Equity Investments and Special Situations. I led several restructurings and disposals under this team.

In 2013 I invested alongside Richard in Conduct Telecoms and in 2014 in Vumatel as a personal investment. These assets were sold in 2015 to Dark Fibre for 8x TMB and 2019 to CIVH for 22x TMB.

I left Absa in 2013 to join a startup private equity firm as a partner, based in Hong Kong concentrating on Asia outbound investment into Africa. During the time I assisted in fundraising and capital deployment of 5 assets in 2 years. In 2016, I returned to South Africa to open the South African office for this firm.

In late 2016, having worked together informally for 8 years Richard and I partnered to form Platform Investment Partners.

Tutu Mnganga

Khululu Capital

I founded and established Vulindlela Holdings in 1995 and have seen the business mature into a diverse portfolio of quality investments that includes Property, Private Equity, Infrastructure and Public Private Partnerships.

Vulindlela Holdings is a wholly owned subsidiary of Khululu Capital, where I serve as a director. I obtained a Bachelor of Laws (BA LLB) from the Natal University, Pietermaritzburg in 1988.

My responsibilities include developing the group strategy, deal origination and structuring, and the oversight of the performance and sustainability of the company’s investments and assets.

I reside in KwaZulu-Natal, married with three children and four grandchildren.

Marshall Mabin

Development Director

I’m a renewable energy development executive with over 15 years’ experience delivering utility-scale wind, solar PV and battery storage projects across Southern Africa. My expertise spans the full project lifecycle – from greenfield origination and permitting, to land acquisition, grid strategy, investment packaging, and financial close.

I have built and managed project portfolios totalling over 10 GW under REIPPPP, private offtake, and merchant frameworks. My career includes senior roles at Merchant Energy, PNE South Africa, and Mainstream Renewable Power, as well as experience at CSIR shaping national grid and renewable planning policy. Earlier, I spent seven years in the United Kingdom working in utilities and energy efficiency.

To date, I have led the development of portfolios exceeding 10 GW, including projects under REIPPPP, private offtake and merchant market frameworks. My background includes senior roles at Merchant Energy, PNE South Africa and Mainstream Renewable Power, complemented by experience at CSIR shaping national grid and renewable planning policy.

Currently, I serve as Development Director at Merchant Energy, leading a high-performing team driving the origination, development and positioning of a national portfolio of utility-scale renewable energy assets.

I’m passionate about accelerating the energy transition through smart, investable infrastructure – and ensuring that projects meet the technical, regulatory and ESG standards demanded by investors, policymakers and the communities they serve.

Joe Botha

Finance Manager

Ross Train

Senior Development Associate

I’m a development professional with a multidisciplinary background in urban planning, environmental law, and renewable energy. I currently serve as a Senior Development Associate at Merchant Energy, supporting the origination and development of utility-scale renewable energy projects across South Africa – from site identification and permitting through to commercial close.

My career spans roles in land management, project development, and regulatory compliance at leading IPPs, including Mainstream Renewable Power and ENERTRAG. I bring technical and legal expertise to complex infrastructure projects, with a focus on environmental permitting, spatial planning, and stakeholder engagement.

Holding two Master’s degrees – in City and Regional Planning and Marine & Environmental Law – I’m driven by a commitment to urban sustainability, social justice, and enabling South Africa’s Just Energy Transition.

Lischa Gerstle 

Legal Counsel

I am a seasoned legal and transaction professional with over two decades of experience advising on complex regulatory and corporate matters, as well as finance transactions across South Africa and other African jurisdictions. I have served as in-house legal counsel to one of South Africa’s leading investment banks and the South African subsidiary of one of Australia’s large investment banks. I have worked in a strategic advisory capacity in a boutique consultancy focusing on strategic infrastructure development across various African jurisdictions and held equity partnership in one of Africa’s top tier law firms.

My deep insight into corporate and funding transactions stems from having represented different sides of the negotiation table and thus give me a balanced insight into the negotiations in any transaction. Having represented various stakeholder perspectives across transactions from lender to borrower, deal structurer, credit and investment committees to commercial product owner, provides me with a unique insight into the respective commercial interests and makes me a versatile representative in these transactions.

I have worked on many complex and multi-jurisdictional international transactions over the years, as well as numerous transactions that have spanned various jurisdictions of the African continent. I play a decisive, active and strategic role in successfully closing the transactions I work on and bring an attention to detail and strong problem-solving acuity, as well as strategic mindset, to every transaction.

At Merchant Energy, I provide strategic legal oversight across the business, ranging from corporate structuring to fund raising initiatives, developing and implementing renewable energy projects to the financial close of these transactions. I bring hands-on and in-depth experience in managing legal risk to the table to enable transaction execution in complex, high-value and high-pressure environments.