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Learn about Nedbank’s partnership with Sterling and Wilson
Partnering for sustainable development
Nedbank Corporate and Investment Banking (NCIB) is proud to have successfully provided R70 million and US$28.55 million in financial facilities to support Sterling and Wilson’s role as the EPC contractor for the Northam Platinum solar PV project.
Nedbank’s commitment to sustainable energy solutions
The financial guarantees and construction-related facilities are part of NCIB's efforts to drive sustainability in the energy sector. The guarantees were issued under the international Financial Institutions framework. Financial instruments ensure payment and performance in construction projects, providing the client with security, flexibility, and support for large-scale projects.
Sterling and Wilson: Leaders in EPC solutions
Sterling and Wilson is a global player specialising in end-to-end engineering, procurement, and construction (EPS) solutions, specifically solar energy projects. With an impressive EPC portfolio of 19.4 GWp, Sterling and Wilson is at the forefront of renewable energy sources, expanding into hybrid energy, energy storage, and floating solar solutions to enhance global sustainability. The company’s focus is India, where its EPC portfolio has reached over 14 GWp. It is one of the top players in the Indian market, targeting an order book of 34 GWp.
By integrating advanced energy storage technologies and solar electricity into its projects, Sterling and Wilson is leading the way in creating sustainable energy infrastructures that support global decarbonisation efforts.
Global reach: Key projects and achievements
South Africa is another key strategic area for the client, showing a material increase in the order book and pipeline. Sterling and Wilson Renewable Energy Limited (SWREL), the ultimate parent company with headquarters in India and listed on the Indian Stock Exchange, has completed several landmark projects, including The Sweihan 1 177 MW PV independent power project in Abu Dhabi.
Other key utility-scale projects have been executed in several countries, including Australia, India, Vietnam, Morocco, Oman, United States, Chile and South Africa (De Aar, Northern Cape).
Strategic importance for NCIB
The proposed transaction provides the business team with the opportunity to further embed its sector penetration with a leading global EPC contractor on a project where the off-taker, Northam, is a key client of the bank, and the project is funded by a consortium of lenders comprising NCIB Energy Finance.
Regarding the current transaction structure and discussions with the client, Nedbank will be awarded 100% of the transactional banking on this project, allowing us to earn revenue from multiple product streams. Furthermore, this transaction will open the door for Nedbank’s future participation in the SWSA pipeline in South Africa and the rest of the continent.
As a preferred contractor to Asia, the Middle East, and Africa, SWSA has a potential EPC pipeline in excess of 1 GW. As SWSA is a new bank client, this pipeline will be targeted cautiously, with each project being assessed on its individual merits.
Related posts
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Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024 in nedbank:cib/deals
Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024 in nedbank:cib/deals
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024
