Advancing greener goals with solar progress

Delivering 300MW of clean energy into the national grid, the project will enable Discovery Green to expand access to sustainable, cost-effective power for businesses across South Africa. Through our continued partnership with Red Rocket and Discovery Green, we are enabling businesses to unlock greener growth while advancing the energy transition our country urgently needs.

Having successfully jointly-led the R5.3 billion transaction, Absa played a pivotal role as joint MLA, joint hedge provider, senior debt lender, ancillary debt lender, account bank, and guarantee issuing bank. This second strategic deal of 2025 with Red Rocket and Discovery Green reflects our client-focused approach to financing South Africa’s renewable energy transition and our ability to deliver solutions that align with our clients’ ambitions.

Located in Mpumalanga, the project creates impact far beyond power generation. It is expected to supply renewable electricity to approximately 369 000 homes, ensuring communities benefit from stable renewable supply while giving South African businesses the energy certainty they need to grow and reducing carbon emissions at scale. Through Discovery Green’s commitment to providing affordable electricity, off-takers can also expect to receive up to 20% savings per kWh, with clean energy delivered to businesses across a range of key industries.

This milestone deal reaffirms our commitment to structuring and financing innovative energy solutions that move South Africa forward - empowering businesses and communities to thrive in a changing energy landscape.