DEALS Accelerating renewable energy progress towards sustainability Absa | Corporate and Investment Banking > Insights and Events > Accelerating renewable energy progress towards sustainability SHARE As a leading Pan-African bank, Absa continues to prioritise financing of renewable energy projects and this transaction amplifies our role as a market leader in driving the Just Energy Transition agenda in our markets. We are proud to have acted as Joint Mandated Lead Arranger, Agent Bank, Joint hedge provider, Lender and the Guarantees issuing bank on a milestone deal and financed ENGIE’s two solar photovoltaic (PV) power plants. This transaction is another big step in the right direction towards advancing the national agenda and providing South Africa with a sustainable energy source under Bid Window Five (BW5) of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The two plants will generate up to 150 MW of renewable, affordable and reliable electricity over 20 years; helping supply power to about 80,000 South African households and cut greenhouse gas emissions annually. The financing of these projects in the renewable energy sector cements our commitment to accelerating progress towards sustainability through our expertise and capabilities. Contact Colin King Contact Avania Moosa Contact Xoli Nene https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Empowering Agricultural Trade in Africa This USD 45 million facility supporting Royal Nuts’ subsidiary, Dorado in Côte d’Ivoire, the world’s largest single-roof cashew processing facility, driving economic growth, community upliftment, and global market expansion, will boost its working capital and optimise supply chain efficiency in West Africa. Read more DEALS Accelerating transformative Infrastructure development for long-term impact Our $75 million deal with the Emerging Africa & Asia Infrastructure Fund (EAAIF) is set to accelerate infrastructure development for lasting impact - bridging Africa’s long-term debt gap, and supporting projects that promote infrastructure development, economic growth and renewable energy expansion. Read more DEALS Powering a sustainable future with Ferroglobe At Absa CIB, we believe that financing critical mineral supply is essential for advancing the Just Energy Transition. Our partnership with Ferroglobe supports the expansion of silicon metal production, which is key to semiconductor chips and solar panels, driving economic growth, job creation and Africa’s role in the renewable energy value chain. Read more
