Absa has supported financing for renewable energy projects across the continent, including South Africa’s REIPPP (Renewable Independent Power Producer Programme) programs and commercial or industrial projects with private off-takers.
The REIPPPP is critical in helping Eskom add renewable power generation capacity to the national grid in line with the country’s just energy transition objectives and sustainable development goals.
The latest transaction demonstrates its ongoing commitment to the sector and the acceleration of investments that make a sustainable impact on the communities served whilst contributing to the supply of much-needed new power generation capacity to the grid.
The group currently has 606MW of projects in operation and under construction, more than $1 billion invested, and a pipeline of projects amounting to more than 12GW, of which 1 GW will reach a financial close within the end of the year.