Row rect Shape Decorative svg added to bottom Fuelling sustainable power generation Absa | Corporate and Investment Banking > Insights and Events > Fuelling sustainable power generation SHARE We are thrilled to announce our strategic partnership with EDF, Mulilo Energy, Pele Energy Ltd and GIBB Crede on three landmark Battery Energy Storage Systems (BESS) designed to bolster South Africa’s energy landscape. As a Joint Mandated Lead Arranger and Joint Hedge Provider, we are proud to support the development of one of the country’s largest Battery Energy Storage Systems (BESS). This landmark project represents a total investment of R6.95 billion, with Absa contributing a significant R2.68 billion. This project marks a significant milestone, aligning with South Africa’s national energy goals and supporting grid stability at a time when innovative solutions are more crucial than ever. By storing off-peak energy and releasing it during peak demand, EDF’s BESS projects will enhance grid reliability, mitigate loadshedding and will facilitate greater renewable energy deployment across the country. Beyond the immediate impacts, this collaboration strengthens Absa’s position as a leader in energy finance. Our commitment to these project underscores our shared vision for a sustainable future and paves the way for further advancements in energy and battery storage across Africa. Contact Nikhil Kasiram for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Enabling mining development to support South Africa’s economic growth Absa CIB acts as joint mandated lead arranger, hedge provider, account bank and facility agent for West Wits Mining’s Qala Shallows Gold Project Read more DEALS Backing bold growth in Ghana Across Ghana’s manufacturing and consumer goods landscape, the need to scale efficiently, strengthen local production and remain competitive continues to grow. Read more DEALS Powering South Africa’s energy transition through scalable infrastructure solutions Absa Corporate and Investment Banking partnered with Mulilo Energy Holdings on the financing of the 77MW / 308MWh Hartebeesfontein Battery Energy Storage System (BESS) project, acting as Joint Mandated Lead Arranger, Senior Lender, Hedge Provider and Agent Bank. Read more
