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Nedbank Corporate and Investment Banking's (CIB) key role in the closing of a landmark R4 billion deal, in partnership with SOLA Group resulted in South Africa’s 1st utility-scale solar project that feeds energy to the grid. This, in turn, powers 5 titanium mining facilities for Tronox Mineral Sands (Tronox). Titanium dioxide, derived from titanium, is a versatile pigment used across thousands of applications, including most sunscreens.
It’s this type of ecosystem thinking, rooted in deep cross-sector expertise, that radiates sustainable impact across business ecosystems into the world.
The deal, in which Nedbank CIB acted as joint mandated lead arranger, saw the provision of debt funding of over R3 billion. The project consists of 2 100 MW solar PV projects in the Ditsobotla Local Municipality in North West, and will supply electricity to 5 Tronox facilities in the Western Cape and KwaZulu-Natal via wheeling arrangements with Eskom. They will comprise a total of 387 000 solar panels mounted on trackers that change position as the sun moves. This solar PV project was designed and developed by the SOLA Group and African Rainbow Energy and Power (AREP).
