Absa completes R5.2bn debt refinancing for three Globeleq power plants

Independent power producer Globeleq and financial services firm Absa have completed the senior debt refinancing of three of Globeleq’s renewable energy power plants in South Africa, the companies said on August 10. The purpose of the refinancing is to enhance the projects’ capital structures, allowing for the release of value to shareholders and the reduction of the tariff to the national utility and, ultimately, consumers in South Africa.