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 Enabling TAAG Angola Airlines to reach new heights We are pleased to have acted as Joint Mandated Lead Arranger, Security Trustee and Facility Agent for TAAG Angola Airlines’ $110 m predelivery payment facility. Read more DEALS Building Stronger Partnerships to Drive New Growth We are proud to act as the sole financial adviser to Bidvest Group in their strategic expansion into a new segment of South Africa’s industrial sector. Read more DEALS Powering progress for a cleaner energy future We are proud to partner with Mulilo and Air Products South Africa on a transformative 75MWAC solar PV power plant in the Northern Cape. The Ukuqala Project marks a significant step in advancing South Africa’s renewable energy transition and securing a low-carbon future. Read more