Client challenge

Seriti Resources looked to diversify and decarbonise their mining operations to become more sustainable and environmentally responsible. RMB structured a long-term Power Purchase Agreement (PPA) solution to enable Seriti to develop a wind farm in Mpumalanga. This first-to-market solution will not only create enhanced shareholder returns and a cost-effective tariff and predictable price path, but also benefits the surrounding communities.

RMB solution

RMB is a long-standing partner of Seriti and played a key role in forming Seriti Green – the renewable energy subsidiary of Seriti Resources. Its first-to-market equity financing solution will generate enhanced shareholder returns and savings on the cost of capital for shareholders. Streamlining the roll out for the rest of the portfolio will be aided by the learnings from closing the R4bn deal.

Client enablement

RMB’s long-term project financing solution enables Seriti Green to provide 155MW of renewable power for its mining operations. This will positively impact Seriti Resources as they transition away from coal power. Equally important is their goal to aid affected communities from the mining economy so that they too can benefit from sustainable value for generations to come.

Client Seriti Green
Sector Renewable energy
Capabilities Infrastructure Finance Solutions
RMB’s role Co-mandated lead arranger
Country South Africa

Deal Summary

Seriti Green, a renewable subsidiary of Seriti Resources (Seriti), has secured R4bn in funding with RMB to develop their first 155MW renewable energy plant. This is a significant step in their just energy transition away from coal power. This deal will also allow Seriti to become more future-proof with their mining efforts moving forward. RMB played a key role in the deal, acting as the co-mandated Lead Arranger for the long-term project financing solution. The innovative first-to-market equity financing solution saves costs on capital for shareholders and provides excellent value for the client. This power move will not only generate 155MW of renewable energy for Seriti’s mining operations but also contribute towards Seriti’s future goal of providing 1GW of power into SA’s grid. The wind farm will also impact communities, not only by providing renewable power, but through social change for generations to come

Client challenge

RMB invests alongside Seriti in acquisition of Windlab Africa platform

Client challenge

Seriti Resources (Seriti) is a BBBEE energy business. While currently being focused on the production of coal (for both Eskom and export markets), with the intended closure of 8 – 12 GW of coal-fired power generation over the next 10 years, Seriti realised a need to future-proof the business.

Join our community

RMB has an extensive deal footprint in over 35 countries in Africa.

Subject
Your details
Required
Company turnover
Number of employees
Are you an existing client?
Required
Required
Required
Required
Required
Required
Required
Required

Thank you for your enquiry, your details have been submitted.

Connect with us on your favourite social platform

Explore some of our other solutions

More deals in Renewable Energy