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TotalEnergies Hybrid Solar Project
Nedbank Corporate and Investment Banking finances strategic solar power plant.
The partnership with TotalEnergies is set to mitigate risk by elevating the grid.
Nedbank Corporate and Investment Banking, in collaboration with TotalEnergies, is poised to transform the energy landscape with the unveiling of a groundbreaking 216 MW hybrid solar energy facility in South Africa's Northern Cape province. This initiative marks a significant leap in solar generation, setting itself apart from previous Renewable Independent Power Producer Programmes (REIPPPs) by integrating cutting-edge battery technology for on-demand electricity programming.
Under a power purchase agreement signed in November 2023, the system will deliver a continuous 75 MW of dispatchable power to Eskom, using its 500 megawatt-hour storage capacity. The project's capability to ensure an uninterrupted power supply from 05:00 to 21:30 is noteworthy, as it surpasses the duration of available sunlight. The facility's construction, driven by a consortium comprising TotalEnergies (35%), Hydra Storage Holdco (35%) and Reatile Renewables (30%), aims to address short-term supply gaps, alleviate capacity constraints, and reduce reliance on diesel generators.
Aligned with the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) initiated by the Department of Mineral Resources and Energy, the venture is expected to dispatch over 400 gigawatt-hours of renewable electricity into the national grid per year for the next 2 decades.
The deal was closed on 14 December 2023, with the hybrid facility expected to come online in 2025.
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NCIB plays key role in SA Corporate’s acquisition and subsequent delisting of Indluplace
Nedbank Corporate and Investment Banking (CIB), recently played a pivotal role in the successful acquisition and subsequent delisting by SA Corporate Real Estate Limited (“SA Corporate”) of Indluplace Properties Limited (“Indluplace”). Acting through our Corporate Finance team, CIB served as the exclusive corporate advisor and transaction sponsor in the transaction, which involved the integration of Indluplace Properties Limited ("Indluplace") into SA Corporate's portfolio.
Published 29 Aug 2023 in nedbank:cib/deals/property
NCIB plays key role in SA Corporate’s acquisition and subsequent delisting of Indluplace
Nedbank Corporate and Investment Banking (CIB), recently played a pivotal role in the successful acquisition and subsequent delisting by SA Corporate Real Estate Limited (“SA Corporate”) of Indluplace Properties Limited (“Indluplace”). Acting through our Corporate Finance team, CIB served as the exclusive corporate advisor and transaction sponsor in the transaction, which involved the integration of Indluplace Properties Limited ("Indluplace") into SA Corporate's portfolio.
Published 29 Aug 2023
Nedbank CIB closes R1,3 billion finance deal for Intertoll’s 50% acquisition of Bombela
Nedbank CIB has successfully closed R1,3 billion of acquisition finance facilities to support Intertoll International Holdings B.V. (Intertoll) in purchasing a 50% equity stake in Bombela Concession Company (RF) (Pty) Ltd (BCC).
Published 19 May 2023 in nedbank:cib/deals/finance
Nedbank CIB closes R1,3 billion finance deal for Intertoll’s 50% acquisition of Bombela
Nedbank CIB has successfully closed R1,3 billion of acquisition finance facilities to support Intertoll International Holdings B.V. (Intertoll) in purchasing a 50% equity stake in Bombela Concession Company (RF) (Pty) Ltd (BCC).
Published 19 May 2023
