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 Bridging markets to unlock bold ambitions Absa Corporate and Investment Banking (CIB) acted as the sole South African bank appointed as Global Coordinator, Joint Bookrunner and Dealer Manager in the successful issuance of a US$500 million international bond for Bidvest. Read more DEALS Advancing greener goals with solar progress At Absa CIB, we believe progress is measured not only by what we build, but by the future we help shape. That’s why our R2.2 billion financing of Red Rocket’s Tournee solar project goes beyond infrastructure – it’s accelerating South Africa’s renewable energy transition for lasting impact. Read more DEALS Innovative Benchmark Solutions Advancing Oil Supply Growth We structured a unique ZARONIA-linked debt facility, to foster supply chain resilience and drive innovation in the South African FMCG sector. Read more
