Enel Reaches Financial Close for South African Wind Projects

Wind Industry Profile of

EGP RSA signed all financing agreements, also known as “financial close”, for five new wind farms with Nedbank Limited and Absa

Enel Green Power RSA (“EGP RSA"), the Enel Group’s South African renewables company, signed with senior lenders Nedbank Limited and Absa[1] all project financing agreements for up to 950 million euros, namely up to 80% of the overall investment of around 1.2 billion euros on a portfolio of five new wind projects, totalling roughly 700 MW of capacity. The five facilities, namely Nxuba, Oyster Bay, Garob, Karusa and Soetwater, have a capacity of around 140 MW each. The Enel Group is contributing around 230 million euros in equity in the construction of the five wind farms. Following the signing of the agreements, also known as... ... More: Official Press Release Enel

Keywords:

Enel, South Africa, financing, Nedbank, wind farm, wind energy