Nedbank concludes R2.1bn bond to fund private renewable energy projects

Financial services firm Nedbank has concluded a R2.1-billion Green Private Power Tier 2 Bond, listed on the sustainability segment of the JSE, with the proceeds to focus on notionally funding private renewable energy projects in South Africa. Private renewable energy power projects refer to commercial and utility-scale renewable energy projects with private corporate offtakers. These projects will play a pivotal role in advancing renewable energy capacity, accelerating the transition to a low-carbon economy and lending support to the underlying corporates’ own sustainability objectives.