{"id":759257,"date":"2024-03-12T09:17:53","date_gmt":"2024-03-12T07:17:53","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=759257"},"modified":"2024-03-12T09:17:59","modified_gmt":"2024-03-12T07:17:59","slug":"nedbank-absa-and-more-funding-massive-new-wind-farms-in-the-eastern-cape","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/759257\/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":"\n<p>Three huge wind farms and a massive transmission line are set to be built in the Eastern Cape. <\/p>\n\n\n\n<p>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\n\n\n<p>The project will supply 330 MW to Sasol and Air Liquide&#8217;s operations in Secunda, Mpumalanga, under a 20-year Power Purchase Agreement. <\/p>\n\n\n\n<p>The project&#8217;s sponsor is the Enel Green Power RSA and Perpetua Holdings consortium.<\/p>\n\n\n\n<p>\u201cWe expect the projects to start operating in 2026 in order to contribute towards the energy supply constraints in the country,&#8221; said Lungile Tom, Acting Head of Project Finance at the DBSA.<\/p>\n\n\n\n<p>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\n\n\n<p>Despite the Eastern Cape&#8217;s 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\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"YEND15if2X\"><a href=\"https:\/\/businesstech.co.za\/news\/lifestyle\/756659\/south-africa-is-home-to-the-most-polluted-place-on-earth-with-health-risks-for-millions\/\">South Africa is home to the most polluted place on earth &#8211; with health risks for millions<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;South Africa is home to the most polluted place on earth &#8211; with health risks for millions&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/lifestyle\/756659\/south-africa-is-home-to-the-most-polluted-place-on-earth-with-health-risks-for-millions\/embed\/#?secret=FwZf2RUzSp#?secret=YEND15if2X\" data-secret=\"YEND15if2X\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>The project&#8217;s expenditure thus includes the construction of a transmission line of 120 kilometres. <\/p>\n\n\n\n<p>&#8220;This 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,&#8221; said DBSA. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/government\/759165\/these-areas-in-joburg-have-been-hit-by-the-equivalent-of-stage-9-load-shedding\/\" target=\"_blank\" rel=\"noreferrer noopener\">These areas in Joburg have been hit by the equivalent of stage 9 load shedding<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>330 MW of electricity will be generated in the Eastern Cape for Sasol and Air Liquide&#8217;s operations in Mpumalanga. <\/p>\n","protected":false},"author":95,"featured_media":676195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[29,5165,26,1799,2240],"class_list":["post-759257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-absa","tag-dbsa","tag-headline","tag-nedbank","tag-sasol"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/759257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=759257"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/759257\/revisions"}],"predecessor-version":[{"id":759331,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/759257\/revisions\/759331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/676195"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=759257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=759257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=759257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}