Row rect Shape Decorative svg added to bottom Harnessing Partnerships to Power Energy at Scale Absa | Corporate and Investment Banking > Insights and Events > Harnessing Partnerships to Power Energy at Scale SHARE Absa Corporate and Investment Banking acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider on the ZAR 8.4 billion financing of SOLA Group’s 300 MW Naos solar PV project, incorporating 660 MWh of battery storage. Through our R1.25 billion commitment, we will support Project Naos full lifecycle - from design and construction, through to operations and maintenance. Once operational, the project will supply clean, reliable power to Sasol Ltd via its energy-trading subsidiary, Nomusize (Pty) Ltd, together with Air Liquide Large Industries South Africa Proprietary Limited (ALLISA), under long-term power-purchase agreements spanning 25 years. This landmark transaction represents a significant milestone in South Africa’s renewable-energy landscape and supports South Africa’s just energy transition by helping reduce reliance on fossil fuels, lowering carbon emissions and strengthening energy security. Beyond its economic value, the project also creates skilled employment opportunities throughout construction and operations, particularly in underserved areas, and contributes to local enterprise development and community upliftment initiatives. As a leading independent power producer and pioneer in the commercial and industrial renewable-energy sector, SOLA Group continues to advance South Africa’s just energy transition through innovative, large-scale projects. This transaction reinforces Absa’s leadership in renewable-energy finance, delivering structured, innovative energy solutions that drive sustainable growth. It highlights how strong partnerships and targeted investment can accelerate the transition to a low-carbon South Africa. Silindokuhle Mjoli Nikhil Kasiram https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Backing the metals that will power the future Absa is proud to help lead one of South Africa’s landmark mining projects. As joint mandated lead arranger and bookrunner with Ivanplats on a USD700 million project finance facility, we’re powering the Platreef Project’s growth – unlocking critical minerals for a sustainable future. Read more DEALS Backing retail property assets with flexible financing built for growth We are proud to have concluded a landmark real estate financing transaction for Soma Properties Limited contributing toward the expansion of Sarit – Kenya’s most iconic retail and lifestyle mall, and the premium destination mall in East and Central Africa. Read more DEALS Forging refined growth in copper By enabling Jubilee Metals Group’s transition to a copper-focused business through M&A advisory, the deal redefines the company’s growth strategy that accelerates future expansion in Africa. Read more
