Row rect Shape Decorative svg added to bottom Partnering to continue harnessing wind power for a greener future Absa | Corporate and Investment Banking > Insights and Events > Partnering to continue harnessing wind power for a greener future SHARE Absa Corporate and Investment Banking (CIB) is proud to have acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider for the R5 billion financing of Seriti Green’s 155MW wind project, which will supply clean, reliable power to NOA over the next 25 years. NOA is a leading renewable energy independent power producer and aspirant energy trader owned by the Old Mutual Group through the Africa Infrastructure Investment Managers (AIIM) and the IDEAS Fund. The project marks a significant step forward in South Africa’s renewable energy journey, supporting the country’s shift toward a more sustainable, secure, and affordable energy future. Seriti Green, a leading independent power producer (IPP), is driving this change by developing large-scale renewable projects that contribute directly to South Africa’s just energy transition. Through our R2.5 billion financing, Seriti Green will deliver wind-generated electricity to NOA, a power trader that provides renewable power solutions to commercial and industrial clients across South Africa. The project will not only help businesses achieve their net zero and ESG goals but also promote energy resilience and long-term cost stability. This transaction reflects Absa’s continued leadership in renewable energy finance and its ability to structure and fund innovative wheeled energy solutions that drive both economic growth and environmental sustainability. It demonstrates how collaboration and purposeful investment can accelerate South Africa’s transition to a low-carbon economy. Contact Johan Koorts Contact Russel Timbe 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
