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 Empowering African Aviation to Soar Higher Absa Corporate Investment Banking enables strategic fleet reintegration and regional expansion for AELF and SAA with a USD 31 million aircraft refinancing solution. Read more DEALS Energising Progress with Africa’s Largest Standalone Battery Facility We are proud to have played a pivotal role in one of Africa’s most significant energy milestones: the Red Sands Battery Energy Storage Project which is set to become the continent’s largest standalone battery energy storage facility to date to move towards construction. Read more DEALS Supporting expansion in SA’s healthcare property market Absa CIB partners with Growthpoint Healthcare Property Holdings on a R950 million facility to finance healthcare infrastructure. Read more
