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 Capital that builds confidence in South Africa’s tomorrow Absa Corporate and Investment Banking (CIB) is proud to partner with the South African National Treasury as the sole lead arranger and infrastructure finance structuring agent of a R11.8 billion Infrastructure and Development Finance Bond. This purpose-driven instrument is designed to finance or refinance priority infrastructure under the Government’s Budget Facility for Infrastructure (BFI) programme. Read more DEALS Building Namibia’s fiscal strength through purpose-led partnership Supporting the Government of the Republic of Namibia with a ZAR 1.5 billion facility that enables Eurobond repayment obligations and strengthens domestic fiscal resilience. Read more DEALS Distributed Energy. Powering Africa’s low-carbon leap Absa supports CrossBoundary Energy’s $225 million capital raise, contributing up to $100 million to expand renewable infrastructure, enable the mining of critical transition metals such as copper, and extend energy access across underserved African markets. Read more
