Row rect Shape Decorative svg added to bottom Charging Progress in Green Energy Absa | Corporate and Investment Banking > Insights and Events > Charging Progress in Green Energy SHARE The R4.4 billion wind energy project will incorporate the design, development, construction, operation, and maintenance of a 150MW wind project (Phase 2 of FE Overberg) that will generate clean energy for Discovery Green - advancing the just energy transition we’re proud to support Absa Corporate and Investment Banking continues to drive progress in the energy sector through financing solutions that support transformative, inclusive, and sustainable energy initiatives. Our recent R1.6 billion contribution - part of a R3.8 billion debt financing package, supports Red Rocket’s 150MW wind project, Phase 2 of the FE Overberg development in South Africa. This facility will fund the full lifecycle of the project, from design and construction, to operations and maintenance. Once operational, the project will supply 100% renewable energy to Discovery Green under a 25-year Power Purchase Agreement (PPA) with Red Rocket, providing clean energy to Discovery Green’s customers at a competitive energy tariff. Absa acted as Joint Mandated Lead Arranger, Joint Hedge Provider, Joint Senior Lender and Joint Ancillary Debt Lender, Facility Agent, and Guarantee Issuing Bank - a testament to our expertise in structuring complex wheeled energy transactions. This transaction reaffirms our commitment to ESG-aligned investments and illustrates how project finance can accelerate access to affordable renewable energy, while enabling long-term energy resilience and green economic growth. Contact Colin King for more information Contact Russ Timbe for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Clean Power. Multiplied. Accelerating solar infrastructure with R2.1 billion for a resilient, diversified energy market. Absa Corporate and Investment Banking has jointly arranged and financed Anthem’s 475 MW Notsi Solar PV Project, a landmark solar development led by Anthem - a leading independent power producer in South Africa. The total cost for the Notsi Solar PV Project was circa R8.7 billion Read more DEALS Strengthening sustainable mining success Absa Corporate and Investment Banking has supported Tharisa Minerals (Pty) Ltd in advancing its next phase of growth through a multi-currency Platinum Group Metals (PGM) offtake-based Prepayment Facility. Read more DEALS At the forefront of scaling energy progress Absa Corporate and Investment Banking acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider on the R3.4 billion financing of Mulilo Energy Holdings’ 219MW Orkney solar PV project. Read more
