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8,7 MW solar deal powers SAB
To help SAB load more trucks, lessen the load.
Nedbank Corporate and Investment Banking is proud to have once again partnered with solar development company, SOLA Group, in a mass power generation deal for AB InBev’s South African operations – the South African Breweries (SAB). The deal encompasses an 8,7 MW renewable energy project, with 7 solar plants installed across SAB’s various production centres throughout South Africa. This means that SAB can not only sustain production in the face of erratic national electricity supply, but can also drive the expansion of its operations through a multimillion investment into the country. In this way, we simultaneously bolstered SAB’s production and the country’s economy, all while reducing the load on the national grid.
As 1 of the largest industrial businesses in South Africa, the conversion of SAB’s sites to solar becomes even more significant. 'The PV systems will produce close to 14 GWh of electricity a year – the equivalent of taking over 2 000 cars off the road,' says Chris Haw, Chairperson of SOLA Group.
Mass power generation deal for AB InBev’s South African operations – the South African Breweries
The power purchase agreements facilitated for SAB is geared towards achieving AB InBev’s sustainability objectives set at a global level. 'Not only is solar a viable and cost-effective option for us, but it also aligns to our global sustainability strategy, which entails being 100% renewable by 2025,' says Taryn Rosekilly, Vice President of Procurement and Sustainability at SAB and AB InBev Africa.
These solar PV plants span across sites in various areas of the country, including the Western Cape, Limpopo, Gauteng, KwaZulu-Natal and the Eastern Cape. Combined, they consist of over 23 000 solar panels and will generate 175 new jobs in addition to existing SOLA Group employees who are already working on the project.
It’s through this kind of connection thinking across sectors, with the expertise to see relationships between ESG and business impacts that others don’t see, that enable us to create the most innovative solutions that yield growth for the entire ecosystem.
When you see unexpected connections, you see sustainable growth.
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The growth of sustainable finance in South Africa
As part of an expert panel at the 2022 South African Real Estate Investment Trust Conference, Arvana Singh, Nedbank Head of Sustainable Finance Solutions, shared some thoughts on how sustainable finance in South Africa can help mitigate ESG-related risks.
Published 30 May 2024 in nedbank:cib/articles/property
The growth of sustainable finance in South Africa
As part of an expert panel at the 2022 South African Real Estate Investment Trust Conference, Arvana Singh, Nedbank Head of Sustainable Finance Solutions, shared some thoughts on how sustainable finance in South Africa can help mitigate ESG-related risks.
Published 30 May 2024
Nedbank CIB honoured for leadership in sustainable finance
Our ESG-backed approach to lending and financing was recognised at the 2022 Global Finance Sustainable Finance Awards, where we ranked in the top 6% of banks globally and received awards for Outstanding Leadership in Green Bonds and Outstanding Leadership in Transition/Sustainability-linked Bonds.
Published 30 May 2024 in nedbank:cib/deals/esg
Nedbank CIB honoured for leadership in sustainable finance
Our ESG-backed approach to lending and financing was recognised at the 2022 Global Finance Sustainable Finance Awards, where we ranked in the top 6% of banks globally and received awards for Outstanding Leadership in Green Bonds and Outstanding Leadership in Transition/Sustainability-linked Bonds.
Published 30 May 2024
Nedbank CIB leads the way in sustainable finance in Africa
Nedbank's Corporate and Investment Banking (CIB) Division has been recognised for its excellence and innovation in sustainable finance by Global Finance, a respected and prestigious international finance magazine.
Published 30 May 2024 in nedbank:cib/articles/sustainability
What happens when finance meets sustainability?
Find out at the 25th edition of the Africa Energy Forum (AEF), which will be held in Nairobi, Kenya, from 20 to 23 June 2023. During the event Nedbank CIB will collaborate with other energy sector experts, regulators, utilities, developers, and institutions to identify crucial opportunities that will drive the industry forward.
Published 30 May 2024 in nedbank:cib/articles/sustainability
What happens when finance meets sustainability?
Find out at the 25th edition of the Africa Energy Forum (AEF), which will be held in Nairobi, Kenya, from 20 to 23 June 2023. During the event Nedbank CIB will collaborate with other energy sector experts, regulators, utilities, developers, and institutions to identify crucial opportunities that will drive the industry forward.
Published 30 May 2024
Accelerating and scaling Africa’s renewable-energy projects
In Africa more than 600 million people lack access to electricity. At the current pace of electrification millions of Africans are still expected to be without electricity in 2030 unless the pace of electrification is trebled, by connecting more than 90 million people a year. Beyond electrification, African countries should also focus on reducing gaps in access to electricity between urban and rural areas through expanding the electrical grid.
Published 30 May 2024 in nedbank:cib/articles/energy
Accelerating and scaling Africa’s renewable-energy projects
In Africa more than 600 million people lack access to electricity. At the current pace of electrification millions of Africans are still expected to be without electricity in 2030 unless the pace of electrification is trebled, by connecting more than 90 million people a year. Beyond electrification, African countries should also focus on reducing gaps in access to electricity between urban and rural areas through expanding the electrical grid.
Published 30 May 2024
