Standard Bank is lead arranger, underwriter and hedge provider on seven of the 27 delayed power purchase agreements between Eskom and renewable energy projects in South Africa.
Four deals have so far been closed with the remaining three expected to be completed by the end of the month, the bank said.
The four projects that have reached closure are the Sirius, Dyasons Klip 1 and Dyasons Klip 2 solar farms in the Northern Cape and the Wesley-Ciskei wind farm in the Eastern Cape Province.
Scatec Solar is developing the PV projects, while the 33MW wind farm is owned by a consortium of EDF Renewables, Telagystix, Riverbank Winds and local land owners.
The four projects represent a combined investment of ZAR6.6bn (€427m) in South Africa’s renewables sector, Standard Bank said.
South Africa’s government announced earlier this year that the 27 projects – with a combined capacity of 2.3GW – would sign PPAs with the state-owned utility Eskom.
The projects – a mix of wind, solar PV and concentrated solar – were successful bidders as far back as 2015 in the country’s Renewable Energy Independent Power Procurement Programme, but had been held up over delays in signing the PPAs.
Image: Pixabay
Standard Bank magnificent seven
By EBS