Loading...
See More

Renewable energy: Standard commits R9.4bn

Nov 07 2012 13:24 I-Net Bridge
Solar power

Renewable energy systems attract a high upfront cost, but they may be a money saver over the long term. (Duncan Alfreds, News24)

Related Articles

Govt to sign first IPP contracts

Breather for Eskom

Nersa approves 28 IPP licences

State wants IPP project to boost jobs

State, power producers sign contract

Standard Bank is SA’s greenest company

 
Johannesburg - Standard Bank [JSE:SBK] has emerged as the leading investor in the first round of the renewable energy independent power producer (REIPP) procurement process‚ backing a total of 11 wind and solar projects.

Standard Bank said on Wednesday it will provide comprehensive corporate and investment banking services to all its clients‚ including underwriting R9.4bn worth of debt‚ providing interest and currency hedges‚ carbon trading credits‚ and corporate bonding and guarantee facilities.

Standard Bank has also taken an equity stake in four projects.

The government’s allocation of 1 416MW for this first round of REIPP has translated into about R47bn of fixed investment‚ of which the majority‚ roughly R27bn will be funded by debt.

Standard Bank’s mandated clients comprise 338MW of wind and 235MW of solar photovoltaic (SPV)‚ out of the combined 1 416MW per year expected to be produced by all the projects.

The associated debt funding is a third of the total R27bn that is being committed by banks in the form of debt and makes Standard Bank the largest funder of the 28 wind and solar power projects awarded in this round.

Winning bidders signed project agreements with the Department of Energy (DoE) on Monday‚ officially starting closing procedures on South Africa’s first large-scale procurement programme which began a year ago.

Developers will have until November 16 to finalise all their documentation and foreign currency hedges‚ after which projects can be rolled out.
standard bank  |  renewable energy
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 
 

Device lets disabled people talk through their nose

A device that converts nose breaths into speech will open new doors for people with Parkinson’s or motor neuron disease.

 
 

For chic geeks...

It’s THIS easy for someone to steal your ATM pin!
This is why you should install iOS 8
17 photo illusions that look so real
Check out the speed of this robo-cheetah!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...