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 Absa supports Redefine’s international growth Absa supports Redefine’s international growth through €106 million sustainability-linked financing transaction Read more DEALS Absa supports Waco Africa’s growth ambitions with strategic funding solution Absa Corporate and Investment Banking (CIB) has successfully supported Waco Africa with a comprehensive funding package designed to strengthen the group's growth trajectory and support its long-term strategic objectives. Read more DEALS Connecting African ambition to global expertise Absa CIB and UKEF Establish USD100 Million Trade Finance Programme. Absa Corporate and Investment Banking (Absa CIB) has entered into a strategic partnership with UK Export Finance (UKEF) to establish a USD100 million UKEF-backed headroom programme that will support African small and medium enterprises and corporates purchasing UK goods and services. Read more
