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 Economic growth that supports local communities We are pleased to have acted as a Joint Mandated Lead Arranger, Coordinator, Account Bank, Facility Agent and Security Agent for a USD 80m Borrowing Base Facility to Volcafe, the coffee division of the global ED&F Man Group, to finance their East Africa coffee operations. Read more DEALS Supporting Sustainable Commercial Property Finance Solutions We are pleased to have acted as Lender and Sustainability Coordinator for Vukile Property Fund Limited’s R1.1 Billion green and sustainability-linked loans. Read more DEALS Supporting Growth in Global Fashion Retailing We are pleased to have acted as Joint Mandated Lead Arranger and original lender for TFG Brands (London) Limited’s £90m revolving credit facility. Read more
