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Absa, Investec may support Karpowership bid to supply emergency power to SA
By Antony Sguazzin
(Bloomberg) – Absa, Investec and the Development Bank of Southern Africa indicated they could support a bid by a Turkish company to supply emergency power to South Africa, according to a person familiar with the situation.
Conditional backing from the financial institutions, which has yet to be finalised and is dependent on undisclosed conditions being met, enabled Karpowership to offer to supply 1,220 megawatts of power from ship-based, gas-fired plants. The person spoke on condition of anonymity because the banks haven’t publicly disclosed their involvement.
The inclusion of Karpowership, a unit of the Karadeniz Energy Group, on the list of preferred suppliers has attracted criticism because it would lock the country into the use of a fossil fuel for two decades and was exempt from a requirement that would have boosted local manufacturing. South African banks are under pressure fr
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Indicated they could support a bid by a Turkish company to supply emergency power to South Africa.
By Antony Sguazzin, Bloomberg
25 May 2021 16:23
Image: Bloomberg
Absa Group Ltd., Investec Ltd. and the Development Bank of Southern Africa indicated they could support a bid by a Turkish company to supply emergency power to South Africa, according to a person familiar with the situation.
Conditional backing from the financial institutions, which has yet to be finalised and is dependent on undisclosed conditions being met, enabled Karpowership to offer to supply 1,220 megawatts of power from ship-based, gas-fired plants. The person spoke on condition of anonymity because the banks havenât publicly disclosed their involvement.
Absa, Investec may back Karpowership energy deal
Absa, Investec and the Development Bank of Southern Africa indicated they could support a bid by a Turkish company to supply emergency power to South Africa, according to a person familiar with the situation.
Conditional backing from the financial institutions, which has yet to be finalised and is dependent on undisclosed conditions being met, enabled Karpowership to offer to supply 1.GW of power from ship-based, gas-fired plants. The person spoke on condition of anonymity because the banks haven’t publicly disclosed their involvement.
The inclusion of Karpowership, a unit of the Karadeniz Energy Group, on the list of preferred suppliers has attracted criticism because it would lock the country into the use of a fossil fuel for two decades and was exempt from a requirement that would have boosted local manufacturing. South African banks are under pressure from their investors to cut funding to projects that could boost global w
Rothschild Taps Argentina Crisis Veteran for Mideast Turnarounds
May 17 2021, 5:39 PM
May 17 2021, 12:27 PM
May 17 2021, 5:39 PM
(Bloomberg) Rothschild & Co. is set to hire a veteran of Argentinaâs financial crisis from Abu Dhabi Commercial Bank PJSC to help grow the boutique adviserâs debt and restructuring practice in the Middle East, according to people familiar with the matter.
(Bloomberg) Rothschild & Co. is set to hire a veteran of Argentinaâs financial crisis from Abu Dhabi Commercial Bank PJSC to help grow the boutique adviserâs debt and restructuring practice in the Middle East, according to people familiar with the matter.
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