CDH acted for IDC in its financing to Reatile Renewables
CDH acted as legal advisor to the Industrial Development Corporation of South Africa Limited (IDC) in its financing to Reatile Renewables for its equity contribution into three renewable energy projects being the 140MW Khangela, 140MW Umsinde Emoyeni and 140MW Ishwati Emoyeni wind farms. These renewable energy projects will supply energy to Rio Tinto's Richards Bay Minerals, Sibanye-Stillwater and, in the first for South Africa with an energy trader, NOA Group Trading.
Our team's role involved advising IDC on its three debt funding facilities totaling R1,130,000,000 (one billion and one hundred and thirty million Rand). We drafted and negotiated the three debt funding facilities and its ancillary security documents and conducted a due diligence on the three projects including the authorisations, senior debt and project documents. This demonstrates our ability to engage with large complex transactions that aim to alleviate the electricity crisis in South Africa.
Deal team: Mashudu Mphafudi, Michael Bailey Kaoma Vokwana. The broader team involved in the due diligence included Tsele Moloi, Lulama Lobola, James Ross and Jamie Oliver.
