{"id":62633,"date":"2024-03-12T17:14:40","date_gmt":"2024-03-12T17:14:40","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/nedbank-absa-and-more-funding-massive-new-wind-farms-in-the-eastern-cape"},"modified":"2024-03-12T19:04:13","modified_gmt":"2024-03-12T19:04:13","slug":"nedbank-absa-and-more-funding-massive-new-wind-farms-in-the-eastern-cape","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/nedbank-absa-and-more-funding-massive-new-wind-farms-in-the-eastern-cape","title":{"rendered":"Nedbank, Absa and more funding massive new wind farms in the Eastern Cape"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Three huge wind farms and a massive transmission line are set to be built in the Eastern Cape.<\/p>\n

The Development Bank of Southern Africa (DBSA) has been appointed as a co-mandated lead arranger alongside Absa and Nedbank to provide debt funding and BEE equity funding for three large-scale wind farms in the Eastern Cape.<\/p>\n

The project will supply 330 MW to Sasol and Air Liquide\u2019s operations in Secunda, Mpumalanga, under a 20-year Power Purchase Agreement.<\/p>\n

The project\u2019s sponsor is the Enel Green Power RSA and Perpetua Holdings consortium.<\/p>\n

\u201cWe expect the projects to start operating in 2026 in order to contribute towards the energy supply constraints in the country,\u201d said Lungile Tom, Acting Head of Project Finance at the DBSA.<\/p>\n

Sasol previously said that the 330 MW of renewable energy will be produced close to Oyster Bay in the Eastern Cape and will be one of the largest wind-powered facilities in Southern Africa.<\/p>\n

Despite the Eastern Cape\u2019s massive wind potential, the lack of transmission infrastructure has often been highlighted as a major hindrance to the adaption of renewable energies in a country that relies on unreliable and dangerous coal-fired power stations.<\/p>\n

The project\u2019s expenditure thus includes the construction of a transmission line of 120 kilometres.<\/p>\n

\u201cThis is commendable considering the need to unlock transmission and distribution infrastructure, which is severely constrained according to Eskom\u2019s latest Generation Connection Capacity Assessment report,\u201d said DBSA.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Three huge wind farms and a massive transmission line are set to be built in the Eastern Cape. The Development Bank of Southern Africa (DBSA) has been appointed as a co-mandated lead arranger alongside Absa and Nedbank to provide debt funding and BEE equity funding for three large-scale wind farms in the […]<\/p>\n","protected":false},"author":84,"featured_media":62632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-62633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nNedbank, Absa and more funding massive new wind farms in the Eastern Cape - South Africa<\/title>\n<meta name=\"description\" content=\"Three huge wind farms and a massive transmission line are set to be built in the Eastern Cape. 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