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(opens in new tab) https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Absa supports Safaricom Ethiopia’s next phase of growth and digital transformation A tailored financing solution enabling network expansion, digital infrastructure investment and greater financial inclusion across Ethiopia. Read more DEALS Strengthening market access through funding diversification Lewis Group has returned to the public bond market after 13 years, raising R1.1 billion through a senior unsecured bond auction. Read more DEALS Absa supports multi-family residential growth with a R355 million Social Loan for Live Easy Absa Corporate and Investment Banking (CIB) has provided a R355 million Social Loan to multi-family residential developer Live Easy, which reinforces a growing relationship aimed at expanding access to quality, affordable rental housing in South Africa. Read more
