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- R4bn Tronox deal funds two 100MW solar plants
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- What happens when finance meets sustainability?
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- Award-winning in sustainable finance and digital
- Deals
- R4bn Tronox deal funds two 100MW solar plants
- Billions to help Redefine build green properties
- Harmony pursues green goals with R10 billion loan
- Cold solutions finance for cold storage facilities
- International Finance Corporation green bond fund
- Envusa energy deal: The way for renewable energy
- Paladin Energy senior debt funding partnership
- Renewable energy wind farm financing
- Stor-Age’s successful inaugural bond auction
- R4bn Tronox deal funds two 100MW solar plants
- Billions to help Redefine build green properties
- Harmony pursues green goals with R10 billion loan
- Cold solutions finance for cold storage facilities
- International Finance Corporation green bond fund
- Envusa energy deal: The way for renewable energy
- Paladin Energy senior debt funding partnership
- Renewable energy wind farm financing
- Stor-Age’s successful inaugural bond auction
- Women of Corporate Investment Banking
- Young Analyst Programme
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- Africa's pathway to a climate-resilient economy
- Commercial property trends 2022
- Green energy in the developing world | Nedbank CIB
- How sustainable finance creates value
- How the property sector recovered in 2023
- Two wins for sustainable finance leadership | Nedbank CIB
- FURTHER IMPACT empowerment for entrepreneurs
- There's a new buoyancy around water and sanitation
- What happens when finance meets sustainability?
- Africa’s renewable-energy projects
- Breaking barriers for energy transition in mining
- Africa's pathway to a climate-resilient economy
- Commercial property trends 2022
- Green energy in the developing world | Nedbank CIB
- How sustainable finance creates value
- How the property sector recovered in 2023
- Two wins for sustainable finance leadership | Nedbank CIB
- FURTHER IMPACT empowerment for entrepreneurs
- There's a new buoyancy around water and sanitation
- What happens when finance meets sustainability?
- Africa’s renewable-energy projects
- Breaking barriers for energy transition in mining
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- African Mining Indaba | Nedbank CIB
- COP 28 | Nedbank CIB
- South Africa (SA) Auto Week | Nedbank CIB
- IHS Affordable Housing Conference | Nedbank CIB
- Africa Energy Forum | Nedbank CIB
- Africa Down Under Conference 2024 | Nedbank CIB
- Industry leaders talk innovation disruption | Nedbank CIB
- Market leaders in property finance | Nedbank CIB
- African Mining Indaba | Nedbank CIB
- COP 28 | Nedbank CIB
- South Africa (SA) Auto Week | Nedbank CIB
- IHS Affordable Housing Conference | Nedbank CIB
- Africa Energy Forum | Nedbank CIB
- Africa Down Under Conference 2024 | Nedbank CIB
- Industry leaders talk innovation disruption | Nedbank CIB
- Market leaders in property finance | Nedbank CIB
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- SARB: Shifting to a 25 bps hike, from 50 bps
- SARB MPC: Repo unchanged but still hawkish
- Bonds, the monetary surprise and fiscal dominance
- Upside for bond investments has compressed
- The "weak China trade" on the rand exchange rate
- Dovish inflation surprises and fiscal constraints
- The ILB curve steepens, and we expect more
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- How loadshedding impacts inflation | Nedbank CIB
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- SARB: Shifting to a 25 bps hike, from 50 bps
- SARB MPC: Repo unchanged but still hawkish
- Bonds, the monetary surprise and fiscal dominance
- Upside for bond investments has compressed
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R10bn loan takes Harmony closer to renewable energy goal
R10bn loan takes Harmony closer to renewable energy goal
Staff writer
Posted 11/05/2023 Updated 04/08/2024 2 mins
Harmony Gold's solar photovoltaic projects see a boost thanks to green loan.
In June 2022, sustainable gold mining and exploration company, Harmony Gold, appointed Nedbank CIB to help them refinance and upsize its key corporate debt facilities. The R10 billion green loan – coordinated and structured by Nedbank CIB – has been used exclusively to finance the construction of Harmony’s second phase of solar photovoltaic projects.
As a result, Harmony’s renewable energy generation has increased by 137MW, keeping the company’s decarbonization strategy on track. This includes the goal of having 30% of their energy mix originating from renewable sources by 2027. And, thanks to Nedbank CIB’s green loan, this goal is well within reach.
An independent party, global climate consultancy Carbon Trust, was also brought in to confirm that Nedbank CIB's loan is aligned with the core components of the Loan Market Association green loan- and sustainability-linked loan principles.
But the impact of the R10 billion loan goes far beyond the environment. It will see Harmony making a marked difference in South Africa in areas like increased employment and fiscal contribution.
Nedbank CIB recognises that environmentally sensitive mining is a non-negotiable in South Africa's efforts to move towards a lower-carbon future and is, therefore, delighted to have been a part of Harmony Gold's green ambitions.
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