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 Supporting cleaner fuels and long-term energy resilience Natref is investing in refinery upgrades that support cleaner-fuel readiness, operational continuity and South Africa’s inland fuel supply. Read more DEALS Absa supports Growthpoint Healthcare Property Holdings’ expansion into the senior living sector The appointment of Absa as Master Custodian to South Africa's Government Employees Pension Fund (GEPF) has understandably attracted attention within institutional investment circles. The GEPF is not only Africa's largest pension fund but one of the continent's most significant pools of long-term capital. Read more DEALS Absa supports Ilitha’s expansion of fibre connectivity across underserved communities Absa Corporate and Investment Banking (CIB) has successfully supported Ilitha Telecommunications through a R500 million financing facility that will enable the expansion of its fibre network across South Africa’s township economies. Read more
