Investec Bank Limited backs 194MW of new wind capacity in the Western Cape
Our role
In December 2025, Investec Bank Limited successfully reached financial close on a senior debt funding package to support ACCIONA Energía, H1 Holdings and Chariot with the construction and operation of the Zen and Berg River wind farms in the Western Cape.
Investec underwrote R3.0bn of the R6.0bn senior debt package, enabling the design, construction and operation of approximately 194MW of new wind generation capacity.
Electricity generated by the projects will be sold to Etana Energy, a Cape Town-based licensed energy trader owned by H1 Holdings and Chariot and backed by British International Investment, GuarantCo and Norfund, under a 20-year power purchase agreement.
The transaction advances Sustainable Development Goal 7 (affordable and clean energy) and Goal 13 (climate action) by expanding utility-scale renewable energy capacity and accelerating the decarbonisation of South Africa’s energy system.
This transaction was executed through close collaboration between Investec’s Treasury Sales and Structuring for Interest rate hedging and Forex, Business Transactional Banking for project bank accounts, and our Client Coverage teams for equity guarantees.
About ACCIONA Energía, H1 Holdings and Chariot
ACCIONA Energía is the largest 100% renewable energy company in the world with no fossil legacy. It has 14.6GW of renewable energy and presence in 24 countries. With 30 years of experience, ACCIONA Energía offers a complete portfolio of tailor-made energy solutions for its corporate and institutional clients to meet their decarbonization goals. ACCIONA Energía is committed to the highest environmental, social and corporate governance (ESG) standards. ACCIONA S.A., a leading global company in the provision of regenerative solutions for a decarbonized economy, is the majority shareholder of ACCIONA Energía.
H1 Holdings is a 100% black-owned and managed South African investment holding company established in 2000. It has interests in 23 renewable energy projects with a combined capacity of more than 2.8GW, of which 1.9GW is operational, reflecting its significant participation in South Africa’s energy transition.
Chariot Limited is a London Stock Exchange-listed, Africa-focused energy group with a market capitalisation of £22.8m. The company operates across two core business streams – upstream oil and gas, and renewable energy – with a strategic focus on unlocking energy solutions across the African continent.
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