Row rect Shape Decorative svg added to bottom DEALS Powering the electricity distribution story with Just Energy Transition Absa | Corporate and Investment Banking > Insights and Events > Powering the electricity distribution story with Just Energy Transition SHARE Taking a major step towards building a sustainable future for our planet, together… one story at a time. In a landmark move for renewable energy in South Africa, Absa through its Corporate and Investment Banking division supported Enel Green Power South Africa – local subsidiary of the Italian multinational renewable energy corporation Enel Green Power SpA – in achieving Financial Close for its three 110MW wind projects located in the Eastern Cape. These projects are part of a larger 900MW corporate procurement programme with Sasol and Air Liquide as joint offtakers through a wheeling arrangement facilitated by Eskom. Absa played a pivotal role in this transaction and acted as joint Mandated Lead Arranger (MLA), Lender, FX and interest rates hedge bank, sole project guarantees issuing bank, and joint equity guarantee issuing bank for the projects. This transaction cements Absa’s role as a market leader in driving the Just Energy Transition Agenda for the African continent. Contact Xoli Nene for more information Contact Nikhil Kasiram for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Empowering sustainable growth, one phase at a time. We successfully supported the syndication of a USD700 million facility for the Ivanplats Phase 2 expansion – one of the country’s largest new mining projects in more than a decade. Read more DEALS Expanding trade finance access across African markets Access to trade finance remains a key enabler of growth across Africa. Read more DEALS At the forefront of scaling energy progress Mulilo Beaufort West Solar PV project Read more
