Row rect Shape Decorative svg added to bottom Reinvesting in energy that keeps Africa moving Absa | Corporate and Investment Banking > Insights and Events > Reinvesting in energy that keeps Africa moving SHARE Absa Corporate and Investment Banking has partnered with Infinity Power (IPH) in a landmark US$372 million refinancing of an existing 368MW Bid Window 3 wind portfolio under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), including the Noupoort Wind Farm, Loeriesfontein 2 Wind Farm and Khobab Wind Farm, located in the Northern Cape. Delivering resilient and affordable energy for households and cost savings for Eskom lies at the heart of this partnership. The refinancing unlocks meaningful benefits by reducing tariffs payable to the national grid, generating substantial savings over the remaining term of the power purchase agreements, and ultimately benefitting South African consumers. Absa underwrote 100% of the transaction as sole Mandated Lead Arranger, Underwriter, Bookrunner, Facility Agent, and Account Bank,. This allows Infinity to optimise its capital, release funds for reinvestment, and strengthen its position as one of Africa’s largest pure-play renewable energy provider. Beyond the financial commitment, the transaction delivers tangible community impact by accelerating distributions to community trust shareholders, supporting sustainable development programmes, and releasing shareholder funds for reinvestment into new renewable initiatives. By enabling reinvestment into IPH’s future renewable projects, Absa continues to drive Africa’s clean energy transition and demonstrate confidence in the business’s growth strategy within the continent’s rapidly expanding renewable energy sector. Contact Thulani Shange Contact Moreblessing Chanakira https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles 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 DEALS Seeding success through inclusive partnerships Absa has partnered with HEINEKEN Beverages on a R1.2 billion initiative to support black-owned SMEs across South Africa. As the Fund Administrator, Debt Funder, and Strategic Enabler, Absa will manage two development funds - the Supplier Development Fund and the Enterprise Development Fund to empower at least 125 black-owned SMEs. Read more
