Absa in Reippp financing role

BARCLAYS Africa’s Absa unit has acted as exclusive mandated lead arranger, sole underwriter and sole hedge provider for Mainstream Renewable Power on its two wind projects, the bank said in a statement on Friday. The two projects – 140MW Kangnas wind farm located in the Northern Cape and the 110MW Perdekraal East wind farm in the Western Cape – were awarded under South African government’s fourth round of the Renewable Energy Independent Power Producer Procurement Programme (Reippp) and reached financial close on June 5. Total investment in the two projects would amount to approximately R6.6 billion, with construction expected to start this month. Projects will generate a combined 250MW of power once complete. – Bloomberg