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Fuelling sustainable
power generation

Absa | Corporate and Investment Banking > Insights and Events > Fuelling sustainable power generation
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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

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