Turning wind power to commercial momentum

Absa remains committed to accelerating South Africa’s energy transition by structuring innovative wheeled energy transactions that align with national priorities and create shared value across sectors. In support of Seriti Green’s energy transition - a leading South African independent power producer,  we’ve successfully closed a R4.74 billion financing package to advance their wind energy ambitions. Absa contributed R2.48 billion, acting as Joint Mandated Lead Arranger and assuming multiple roles, including Senior Debt Lender, Hedge Provider, Ancillary Debt Lender, Facility Agent, and Guarantee Facility Bank.

The financing will enable the development of the second phase of Ummbila Emoyeni - from construction through to the operations of a 155MW wind farm, which will supply renewable energy to the Energy Exchange of Southern Africa (EXSA) under a 20-year Power Purchase Agreement. As one of the first large-scale private wheeling transactions in South Africa, the project allows corporates to procure clean power directly through Eskom’s transmission network.

This deal reinforces Absa CIB’s leadership in the renewable energy sector and highlights our ability to structure complex, high-impact transactions that support our clients’ ESG strategies and net-zero targets.

In addition to driving decarbonisation, the project promotes inclusive economic growth by supporting local job creation and community development.

We remain committed to enabling sustainable progress and delivering long-term value across Africa’s energy landscape.