Row rect Shape Decorative svg added to bottom Turning wind power to commercial momentum Absa | Corporate and Investment Banking > Insights and Events > Turning wind power to commercial momentum SHARE The R4.74 billion financing package for Seriti Green marks a key milestone in the development of the second phase of Ummbila Emoyeni - a 155MW wind project that will deliver clean power to EXSA’s customers. 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. Contact Russel Timbe Contact Johan Koorts https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles EVENTS Macro and Risk Management Conference 2026 The Absa Macro and Risk Management Conference underscores Absa’s commitment to helping clients make sense of global volatility and translate it into actionable African strategy. By convening world-class thinkers, the conference challenges institutional investors and corporate leaders to look beyond the noise of tariffs, wars, and economic turbulence — and focus on long-term opportunities for growth, resilience, and regional collaboration. Read more RISK MANAGEMENT Connecting South Africa’s automotive ecosystem through change South Africa’s automotive industry has changed substantially over the past five years, with greater competition, changing vehicle-price dynamics and the emergence of new-energy vehicles altering both the economics of vehicle ownership and the structure of the market around it. Read more RISK MANAGEMENT Why Ghana’s Insurance Opportunity Extends Beyond Traditional Distribution A few weeks ago, I spent some time in Accra alongside Nana Yaa Sakyibea Vanderpujie, Head of NBFI at Absa Ghana, meeting CEOs, CFOs and senior executives from across Ghana’s insurance sector. Read more
