Accelerating renewable
energy progress towards


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.

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