Nedbank Corporate and Investment Banking (CIB) announced its role in closing a groundbreaking multi-billion rand financing deal for Envusa Energy, an innovative energy trading platform.
Nedbank CIB is central to shaping and executing the deal, and is the co-mandated lead arranger, lender, hedge provider, coordinating bank, technical bank, insurance bank, facility agent and account bank.
The financing facilitates the initial phase of renewable energy projects for Envusa Energy, a project of Anglo American, in its transition to renewable energy solutions.
The 1st phase of the project, includes solar and wind projects with a total capacity of 520 MW.
Amith Singh, Head of Energy Finance at Nedbank CIB, said: ‘Envusa Energy represents a landmark deal that exemplifies our dedication to driving sustainable and inclusive growth across Africa. By supporting clients in their transition to a low-carbon economy, we play a pivotal role in the ongoing journey towards cleaner energy solutions.’
Nolitha Fakude, Chair of Anglo American’s Management Board in South Africa and Envusa Energy, expressed her delight at the strides made in priming Envusa Energy for enduring success as a leading renewable energy entity in South Africa.
The attainment of financial closure for these 3 premium renewable energy projects is a fundamental moment in Anglo American’s global decarbonisation efforts and strengthens South Africa’s resolve for a robust, resilient and clean-energy future.
Fakude said the portfolio of solar and wind projects, supported by Nedbank CIB, positions Anglo American as a frontrunner in sustainable mining practices.
Picture: Anglo American and EDF