RMB is a division of First National Bank of Namibia Ltd, Reg. No. 2002/0180. A subsidiary of FirstRand Namibia Limited.
RC 1031371 Copyright © FirstRand 2026. All rights reserved.
RMB is a division of First National Bank of Namibia Ltd, Reg. No. 2002/0180. A subsidiary of FirstRand Namibia Limited.
RC 1031371 Copyright © FirstRand 2026. All rights reserved.
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 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.
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 |
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
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.
