DEALS Funding renewable energy projects for a cleaner future Absa | Corporate and Investment Banking > Insights and Events > SOLA/TRONOX SHARE We are proud to have acted as joint mandated lead arranger and lender for South Africa’s first utility scale renewable energy captive power project, comprising 200MW’s of solar power, which will be built in the North-West province in South Africa at an estimated cost of approximately R4.1bn. The 200MW project (comprising of two projects of 100MW’s each), developed by SOLA Group of South Africa, will supply power to Tronox Holdings Plc’s South African operations, Tronox SA, under a long term power purchase agreement, assisting Tronox to reduce its reliance on fossil fuel power and in line with its strategy to reduce carbon emissions. The project is expected to reduce Tronox’s global carbon emissions by approximately 13%. The project will supply electricity, through wheeling arrangements with Eskom, to five of Tronox SA’s facilities in the Western Cape and KwaZulu-Natal. Tronox SA’s operations are energy intensive and, based on a competitive energy tariff secured through the structure, will contribute to significant savings in Tronox’ energy costs. The transaction adds to our growing renewable energy portfolio, now measuring over 3.1GW’s, including Absa’s participation in Eskom’s renewable energy program, cementing our leadership in the sector. The bravery to imagine. That’s Africanacity. Contact us https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Empowering Agricultural Trade in Africa This USD 45 million facility supporting Royal Nuts’ subsidiary, Dorado in Côte d’Ivoire, the world’s largest single-roof cashew processing facility, driving economic growth, community upliftment, and global market expansion, will boost its working capital and optimise supply chain efficiency in West Africa. Read more DEALS Accelerating transformative Infrastructure development for long-term impact Our $75 million deal with the Emerging Africa & Asia Infrastructure Fund (EAAIF) is set to accelerate infrastructure development for lasting impact - bridging Africa’s long-term debt gap, and supporting projects that promote infrastructure development, economic growth and renewable energy expansion. Read more DEALS Powering a sustainable future with Ferroglobe At Absa CIB, we believe that financing critical mineral supply is essential for advancing the Just Energy Transition. Our partnership with Ferroglobe supports the expansion of silicon metal production, which is key to semiconductor chips and solar panels, driving economic growth, job creation and Africa’s role in the renewable energy value chain. Read more
