Absa funds South Africa’s first utility-scale renewable energy captive power project

Financial services provider Absa acted as joint mandated lead arranger and lender for South Africa’s first utility-scale renewable energy captive power project, which will be built in the North West at an estimated cost of about R4.1-billion. The project – comprising of two projects of 100 MW each – is being developed by SOLA Group of South Africa and will supply power to Tronox Holdings’  South African operations, Tronox SA, under a long-term power purchase agreement.