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Advancing renewable energy resilience through structured finance

Absa | Corporate and Investment Banking > Insights and Events > Advancing renewable energy resilience through structured finance
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Absa Corporate and Investment Banking supported Envusa Energy, a joint venture between Anglo American and EDF Power Solutions, in the financing of the Sishen Solar PV project. The embedded renewable energy facility will supply solar power directly to the Sishen Iron Ore Mine in the Northern Cape, South Africa.

The 72.5MWp / 63MWac facility responds to a clear client priority: securing more reliable, lower-carbon and cost-efficient power for an energy-intensive operation. Once operational, it is expected to meet approximately 30% of the mine’s electricity requirements and help reduce its reliance on grid-supplied electricity.

The project is expected to strengthen Envusa Energy’s renewable energy platform, support  Kumba Iron Ore’s decarbonisation pathway, and enable local economic participation through supplier participation, skills development, and intended community-linked ownership.

Absa acted as Mandated Lead Arranger, Senior Lender and Hedge Provider, applying its project finance, sector and markets expertise to help structure a bankable renewable energy infrastructure project.

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For more information, contact:

Lindokuhle Dube
Tawanda Madondo

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