Investec Plc would provide financing for GDF Suez as it develops two South African gas power plants. These plants would be generating over 1,000 megawatts and would form part of the nation's ZAR9.7 billion or USD933 million independent power production program.
According to one of the members of the Project and Infrastructure Finance tram at Investec, "We're one fo the coordinating lead arrangers. Investec is one of six lenders in the syndicate and we provide a little more than the average amount to the project."
The first plant would be the 670 megawatt Avon gas plant located in KwaZulu-Natal is projected to produce power by 2016 while a second plant would be the 335 megawatt Dedisa plant located in the Eastern Cape would be producing power by 2015. GDF Suez would be the main developer of the power plants and would be operated under a 15 year power agreement with Eskom Holdings SOC Ltd, the South African state utility firm.
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