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 Harnessing Partnerships to Power Energy at Scale Absa Corporate and Investment Banking acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider on the ZAR 8.4 billion financing of SOLA Group’s 300 MW Naos solar PV project, incorporating 660 MWh of battery storage. Read more DEALS Backing the metals that will power the future Absa is proud to help lead one of South Africa’s landmark mining projects. As joint mandated lead arranger and bookrunner with Ivanplats on a USD700 million project finance facility, we’re powering the Platreef Project’s growth – unlocking critical minerals for a sustainable future. Read more DEALS Backing retail property assets with flexible financing built for growth We are proud to have concluded a landmark real estate financing transaction for Soma Properties Limited contributing toward the expansion of Sarit – Kenya’s most iconic retail and lifestyle mall, and the premium destination mall in East and Central Africa. Read more
