Row rect Shape Decorative svg added to bottom Advancing renewable energy resilience through structured finance Absa | Corporate and Investment Banking > Insights and Events > Advancing renewable energy resilience through structured finance SHARE Absa Corporate and Investment Banking supported Envusa Energy, a joint venture between Anglo American and EDF Power Solutions, in the financing of the Sishen Solar PV project. The embedded renewable energy facility will supply solar power directly to the Sishen Iron Ore Mine in the Northern Cape, South Africa. The 72.5MWp / 63MWac facility responds to a clear client priority: securing more reliable, lower-carbon and cost-efficient power for an energy-intensive operation. Once operational, it is expected to meet approximately 30% of the mine’s electricity requirements and help reduce its reliance on grid-supplied electricity. The project is expected to strengthen Envusa Energy’s renewable energy platform, support Kumba Iron Ore’s decarbonisation pathway, and enable local economic participation through supplier participation, skills development, and intended community-linked ownership. Absa acted as Mandated Lead Arranger, Senior Lender and Hedge Provider, applying its project finance, sector and markets expertise to help structure a bankable renewable energy infrastructure project. We are invested in your story and invite you to write it with us. For more information, contact: Lindokuhle Dube Tawanda Madondo https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Financing agricultural growth across Southern Africa Absa Corporate and Investment Banking arranged a USD350m financing facility for United Capital Fertilizer Ltd (UCF) to help scale production and improve fertilizer supply across key African markets. Read more DEALS Enabling mining development to support South Africa’s economic growth Absa CIB acts as joint mandated lead arranger, hedge provider, account bank and facility agent for West Wits Mining’s Qala Shallows Gold Project Read more DEALS Backing bold growth in Ghana Across Ghana’s manufacturing and consumer goods landscape, the need to scale efficiently, strengthen local production and remain competitive continues to grow. Read more
