Row rect Shape Decorative svg added to bottom DEALS Expanding the continent’s access to green energy Absa | Corporate and Investment Banking > Insights and Events > Expanding the continent’s access to green energy SHARE We are proud to have acted as Mandated Lead Arranger, Hedge Bank, Agent Bank and Account Bank for EDF-R’s three wind energy projects, part of South Africa’s REIPPP Programme. EDF Renewables (“EDF-R”), an international leader in green electricity production, is the renewable energy arm of the Électricité de France S.A (“EDF”) Group. EDF is a top French utility company and one of the biggest power producers in the world with a total installed generation capacity of 122 GW. This latest transaction is based in South Africa and forms part of the renewable energy programme, where the South African government is ramping up renewable energy production. The deal was advancement of a long senior and subordinated facilities to a newly created SPV largely owned by EDF-R for purpose of developing the three power plants. The newly created SPVs will sell power to Eskom via long term Power Purchase Agreements. This deal represents the first transaction to reach financial close in bid window 5 of REIPPP and directly delivers on our commitment to financing sustainable projects. The success of this transaction is reflective of our ability to leverage on our in-depth knowledge of the sector and a very strong client relationship to bring together key stakeholders including advisors and syndicate lending group. We are proud to have played a key role in this transaction that directly contributes to enabling access to clean energy and to transition South Africa from fossil fuels to green energy. Contact Shaun Moodley https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Seeding success through inclusive partnerships Absa has partnered with HEINEKEN Beverages on a R1.2 billion initiative to support black-owned SMEs across South Africa. As the Fund Administrator, Debt Funder, and Strategic Enabler, Absa will manage two development funds - the Supplier Development Fund and the Enterprise Development Fund to empower at least 125 black-owned SMEs. Read more DEALS Partnering to continue harnessing wind power for a greener future Absa Corporate and Investment Banking (CIB) is proud to have acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider for the R5 billion financing of Seriti Green’s 155MW wind project, which will supply clean, reliable power to NOA over the next 25 years. NOA is a leading renewable energy independent power producer and aspirant energy trader owned by the Old Mutual Group through the Africa Infrastructure Investment Managers (AIIM) and the IDEAS Fund. Read more DEALS Reinvesting in energy that keeps Africa moving Absa Corporate and Investment Banking has partnered with Infinity Power (IPH) in a landmark US$372 million refinancing of an existing 368MW Bid Window 3 wind portfolio under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), including the Noupoort Wind Farm, Loeriesfontein 2 Wind Farm and Khobab Wind Farm, located in the Northern Cape. Read more
