Nedbank Capital Wins Euromoney Project Finance Africa Power Deal of the Year 2013!
21 February 2014 | People and Companies | Awards | Nedbank
Innovation and excellence was acknowledged across the project finance markets at an awards ceremony held last night in London, where Nedbank Capital was a proud recipient of the Euromoney Project Finance Magazine's 2013 ‘Africa Power Deal of the Year’ Award, for the Avon and Dedisa Peaking Power transactions.
Nedbank Capital acted as a mandated lead arranger and a funder of the R9.7 billion Department of Energy’s (DoE) IPP OCGT Avon and Dedisa Peaking Power Projects which reached financial close in August 2013. The Department of Energy awarded a consortium comprising of GDF Suez, Mitsui & Co and Legend Power Solutions the tender to build, own and operate two diesel fired power stations. Eskom will be the off-taker and will buy the net electrical energy output under a Power Purchase Agreement (PPA), for a duration of 15 years.
The awards, now in their 15th year, focuses on innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects.
Mike Peo, Head: Infrastructure, Energy & Telecoms at Nedbank Capital says, "We are delighted to have won the Project Finance Africa Power Deal of the Year Award for the Avon and Dedisa Peaking Power transactions. A remarkable amount of work was executed to ensure that the deal was successfully implemented. Accolades such as these help showcase Nedbank’s uniqueness in providing sustainable and highly impactful solutions within the energy space, and furthering its commitment to an empowered future for all South Africans.”
