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 Clean Power. Multiplied. Accelerating solar infrastructure with R2.1 billion for a resilient, diversified energy market. Absa Corporate and Investment Banking has jointly arranged and financed Anthem’s 475 MW Notsi Solar PV Project, a landmark solar development led by Anthem - a leading independent power producer in South Africa. The total cost for the Notsi Solar PV Project was circa R8.7 billion Read more DEALS Strengthening sustainable mining success Absa Corporate and Investment Banking has supported Tharisa Minerals (Pty) Ltd in advancing its next phase of growth through a multi-currency Platinum Group Metals (PGM) offtake-based Prepayment Facility. Read more DEALS At the forefront of scaling energy progress Absa Corporate and Investment Banking acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider on the R3.4 billion financing of Mulilo Energy Holdings’ 219MW Orkney solar PV project. Read more
