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 Powering South Africa’s energy transition through scalable infrastructure solutions Absa Corporate and Investment Banking partnered with Mulilo Energy Holdings on the financing of the 77MW / 308MWh Hartebeesfontein Battery Energy Storage System (BESS) project, acting as Joint Mandated Lead Arranger, Senior Lender, Hedge Provider and Agent Bank. Read more 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
