August 2021 – Page 18

August 11, 2021

Lantronix Conclui a Aquisição do Segmento da Unidade de Eletrônicos e Softwares Reportáveis da Communications Systems, Inc.

IRVINE, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) — A Lantronix , Inc. (Lantronix) (NASDAQ: LTRX), provedora global de Software as a Service (Saas), serviços de conectividade, serviços de engenharia, hardware inteligente e soluções turnkey para Internet of Things (Internet das Coisas – IoT) e Remote Environment Management (Gerenciamento de Ambiente Remoto – REM), anunciou hoje que concluiu a aquisição anunciada da Transition Networks e Net2Edge, que abrange a maior parte da unidade de Eletrônicos e Software reportáveis da Communications Systems, Inc. (NASDAQ: JCS) (“CSI”).

A transação irá ampliar a Lantronix imediatamente, com o aumento da receita combinada da empresa prevista para alcançar mais de US$100 milhões ao ano. A aquisição irá adicionar produtos e recursos complementares de conectividade de IoT, incluindo comutação, Power over Ethernet (PoE) e produtos de conversão de mídia e adaptador.

A Lantronix espera alcançar sinergias significativas de operação e desenvolvimento de produtos na empresa conjunta e que as sinergias significativas já a partir do primeiro dia venham impulsionar a adição de lucros não GAAP no fechamento, e espera ainda alcançar US$7 milhões em sinergias anuais de taxa de execução ao longo dos primeiros 24 meses. A Lantronix divulgará a orientação para o exercício fiscal de 2022 em sua teleconferência de ganhos do quarto trimestre do exercício fiscal de 2021, em data a ser notificada.

O Silicon Valley Bank, o banco das empresas mais inovadoras do mundo, e seus investidores, juntamente com a SVB Capital, forneceram financiamento de aquisição.

O’Melveny & Myers LLP atuou como consultor jurídico da Lantronix.

Sobre a Lantronix
A Lantronix Inc. é provedora global de soluções turnkey seguras para Internet of Things (Internet das Coisas – IoT) e Remote Environment Management (Gerenciamento de Ambiente Remoto – REM), oferecendo Software as a Service (SaaS), serviços de conectividade, serviços de engenharia e hardware inteligente. A Lantronix viabiliza que seus clientes forneçam soluções IoT Intelligent Edge e OOBM confiáveis e seguras, acelerando o tempo de colocação do produto no mercado. Os produtos e serviços da Lantronix simplificam drasticamente a criação, desenvolvimento, implantação e gerenciamento de projetos de IoT, proporcionando qualidade, confiabilidade e segurança em hardware, software e soluções.

Com três décadas de experiência comprovada na criação de tecnologias IoT e soluções OOBM robustas, a Lantronix é uma inovadora ao capacitar seus clientes a construir novos modelos de negócios, utilizar maiores eficiências e entender as possibilidades da Internet das Coisas. As soluções da Lantronix são implantadas dentro de milhões de máquinas em data centers, escritórios e locais remotos que atendem a uma ampla gama de indústrias, incluindo energia, agricultura, medicina, segurança, fabricação, distribuição, transporte, varejo, financeiro, ambiental e governamental.

A sede da Lantronix está localizada em Irvine, Califórnia. Para mais informação, visite www.lantronix.com.

Obtenha mais informações no blog da Lantronix, www.lantronix.com/blog, com discussões e atualizações da indústria. Para seguir a Lantronix no Twitter, visite www.twitter.com/Lantronix. Consulte a nossa biblioteca de vídeos no YouTube em www.youtube.com/user/LantronixInc ou conecte-se conosco no LinkedIn em www.linkedin.com/company/lantronix.

Discussão das Medidas Financeiras Não GAAP

A Lantronix acredita que a divulgação de informações financeiras não GAAP, quando divulgadas em conjunto com as medidas GAAP correspondentes, fornece informações suplementares importantes à administração e aos investidores sobre as tendências financeiras e dos negócios relacionadas à condição financeira e aos resultados das operações da empresa. A Administração usa as medidas não GAAP acima mencionadas para monitorar e avaliar os resultados e tendências operacionais em andamento para obter uma compreensão do nosso desempenho operacional comparativo. As medidas financeiras não GAAP divulgadas pela empresa não têm por objetivo substituir ou serem superiores às medidas financeiras calculadas de acordo com o GAAP, e os resultados financeiros calculados de acordo com o GAAP e as reconciliações das medidas financeiras não GAAP com as medidas financeiras calculadas de acordo com o GAAP devem ser cuidadosamente avaliados. As medidas financeiras não GAAP utilizadas pela empresa podem ser calculadas de forma diferente e, portanto, podem não ser comparáveis às medidas de títulos semelhantes utilizadas por outras empresas.

A orientação quanto ao crescimento do lucro por ação é fornecida apenas em uma base não-GAAP devido à dificuldade inerente da previsão da ocasião ou do valor de certos itens que foram excluídos das medidas não-GAAP prospectivas, e uma reconciliação com as orientações GAAP comparáveis não foi fornecida porque certos fatores que são materialmente significativos para a capacidade da Lantronix de estimar os itens excluídos não estão acessíveis ou não podem ser previstos em uma base prospectiva sem esforço não razoável.

Declarações de Previsão

Este comunicado contém “declarações de previsão” de acordo com a definição do termo estabelecido na Seção 27A da Lei de Valores Mobiliários (Securities Act) de 1933 e suas alterações, e na Seção 21E da Lei de Mercados Mobiliários (Securities Exchange Act) de 1934, e suas emendas. As declarações que não são declarações estritamente históricas constituem declarações prospectivas e muitas vezes, mas nem sempre, podem ser identificadas pelo uso de palavras como “espera”, “acredita”, “pretende”, “antecipa”, “planeja”, “estima”, “potencial”, “possível” ou “provável” ou declarações de que certas ações, eventos ou resultados “possam”, “venham a ser”, “devem” ou “poderiam” ser tomados, ocorrer ou serem alcançados. As declarações prospectivas neste comunicado de imprensa incluem, entre outras coisas, declarações sobre os benefícios esperados da aquisição da Transition Networks e da Net2Edge (a “Transação”), incluindo sinergias esperadas na empresa conjunta, para a Lantronix e seus acionistas, a natureza cumulativa da Transação proposta e os resultados operacionais futuros esperados da empresa combinada. As declarações prospectivas são baseadas em expectativas e suposições atuais e análises feitas pela Lantronix e sua administração em virtude da experiência e percepção das tendências históricas, condições atuais e desenvolvimentos futuros esperados, bem como outros fatores apropriados de acordo com as circunstâncias. No entanto, a ocorrência da conformidade dos resultados e desenvolvimentos reais com as expectativas está sujeita a uma série de riscos e incertezas materiais, incluindo, mas não se limitando a: A capacidade da Lantronix de integrar as empresas adquiridas com sucesso após a Transação e obter benefícios antecipados; riscos relacionados a quaisquer passivos imprevistos das empresas adquiridas; imprecisões das estimativas ou premissas de reserva subjacentes; revisões das estimativas de reserva como resultado das mudanças nos preços das commodities; qualquer perda de gestão ou pessoal-chave; o impacto da pandemia da COVID-19, incluindo o surgimento de novas cepas mais contagiosas e/ou resistentes à vacina do vírus e o impacto dos esforços de vacinação, incluindo a eficácia e aceitação pública das vacinas, pelas empresas, funcionários, cadeias de fornecimento e distribuição das empresas conjuntas, e na economia global; e quaisquer fatores adicionais incluídos no Relatório da Lantronix no Formulário 10-K para o exercício fiscal encerrado em 30 de junho de 2020, arquivado na Comissão de Valores Mobiliários (o “SEC”) em 11 de setembro de 2020, incluindo na seção intitulada “Fatores de Risco” no Item 1A da Parte I de tal relatório; seu Relatório Trimestral no Formulário 10-Q para o trimestre fiscal encerrado em 31 de março de 2021, arquivado no SEC em 30 de abril de 2021, incluindo na seção intitulada “Fatores de Risco” no Item 1A da Parte II de tal relatório; e nos outros registros públicos da Empresa arquivados no SEC. Além disso, os resultados reais podem ser diferentes devido aos riscos e incertezas adicionais dos quais a administração da Lantronix atualmente não tem conhecimento ou não vê como relevantes para os negócios da Empresa. Devido a tudo isso, os investidores não devem depositar confiança indevida em qualquer declaração voltada para o futuro. As declarações prospectivas que a Lantronix faz somente tem validade a partir da data em que são feitas. A Lantronix não se compromete a revisar ou atualizar publicamente quaisquer declarações prospectivas, exceto conforme exigido por lei ou pelas regras da Nasdaq Stock Market, LLC.

Contato de Mídia da Lantronix:
Gail Kathryn Miller
Gerente de Marketing e
Comunicações Corporativas
media@lantronix.com
949-453-7158

Contato para Analista e Investidor da Lantronix:
Jeremy Whitaker
Diretor Financeiro
investors@lantronix.com
949-450-7241

Lantronix Sales:
sales@lantronix.com
Américas +1 (800) 422-7055 (EUA e Canadá) ou +1 949-453-3990
Europa, Oriente Médio e África +31 (0)76 52 36 744
Ásia-Pacífico + 852 3428-2338
China + 86 21-6237-8868
Japão +81 (0) 50-1354-6201
Índia +91 994-551-2488

August 11, 2021

California to Require COVID Vaccinations for Teachers, School Staff

California will require that all teachers and school staff be vaccinated or undergo weekly COVID-19 testing, Governor Gavin Newsom announced Wednesday. No other state has enacted such a requirement.

“We think this is the right thing to do, and we think this is a sustainable way to keeping our schools open and to address the number one anxiety that parents like myself have for young children,” said Newsom, who is facing a recall election.

Newsom’s mandate comes as some large school districts in California have already enacted similar rules as the delta variant spreads in the nation’s most populous state.

Health care, state workers

Recently, Newsom also mandated that health care workers get vaccinated. They don’t have the option of being tested instead. State employees are also required to be vaccinated or face weekly testing.

Meanwhile, two separate court decisions in Texas have granted local officials the authority to implement face mask mandates in defiance of Governor Greg Abbott’s order prohibiting local governments from issuing such initiatives.

A district judge in Dallas County on Tuesday issued a temporary restraining order against the governor’s order, saying Texans “have and will continue to be damaged and injured by Governor Abbott’s conduct.”

Clay Jenkins, the top Dallas County executive, had filed a lawsuit against Abbott’s executive order. Jenkins said Tuesday on Twitter that he would meet with county emergency officials in anticipation of issuing an order mandating mask wearing on Wednesday.

Another decision was handed down Tuesday in Bexar County, where a judge ruled that the county and San Antonio, its county seat, could mandate face coverings in public schools and other public buildings. County and city officials immediately issued mask mandates after the court’s ruling.

The superintendents of public schools in Dallas and Austin, the state capital, each imposed mandatory face mask orders for their districts earlier this week.

Abbott’s office has issued a statement defending his order, saying it is time for Texans to take “personal responsibility” when it comes to choosing to wear a mask.

In Florida, the Broward County school board voted Tuesday to maintain its face mask mandate in defiance of Governor Ron DeSantis, who has threatened to withhold funding from school districts and withhold the salaries of local superintendents and school board members who go against his order banning such mandates.

Different approaches

The governors of Oregon and Hawaii are taking different approaches and reimposing restrictions.

Oregon Governor Kate Brown issued an executive order Wednesday mandating that everyone return to wearing face masks indoors, regardless of their vaccination status. And Governor David Ige of Hawaii issued an order limiting bars, restaurants and gyms to 50% capacity, with patrons required to wear masks at all times except when eating and drinking.

Ige also ordered that all social gatherings be limited to no more than 10 people indoors and 25 people outdoors.

Source: Voice of America

August 11, 2021

Oregon Becomes Latest US State to Reintroduce Indoor Mask Mandate

Oregon Governor Kate Brown on Wednesday announced she was restoring a statewide indoor mask requirement for public settings as her state suffers from a record-breaking number of new coronavirus cases and hospitalizations, largely among unvaccinated individuals.

The statewide mandate applies to all Oregon residents older than 5, regardless of vaccination status, and is intended to curb the spread of the more transmissible delta variant, which is threatening the state’s hospital capacity.

“The harsh reality is that delta is a different virus. It has changed everything,” Brown said during a press briefing. “Modeling from the Oregon Health Authority and Oregon Health & Science University project that … without safety measures, we could be as many as 500 staffed hospital beds short of what we need to treat patients by September.”

The mask mandate is set to go into effect on Friday. Brown also announced that all state executive branch employees would have to be fully vaccinated by either October 18 or six weeks after a vaccine has been granted full approval by the Food and Drug Administration.

During the briefing, State Epidemiologist Dean Sidelinger emphasized that unvaccinated people posed the greatest threat to themselves and their community.

Hospital beds filling up

“Oregonians, sick with COVID, nearly all of them unvaccinated, are on the verge of overfilling our hospital beds, posing a critical threat to all Oregonians who need hospital care,” Sidelinger said.

Oregon reported over 2,300 new coronavirus cases Tuesday and 635 coronavirus hospitalizations, both record-high numbers for the state. According to Brown, nearly 90% of Oregon’s intensive care unit beds are filled.

The state ranks 12th in the nation for fully vaccinated residents, with 56% of the population fully vaccinated. About 50% of the entire U.S. population is fully vaccinated.

“If you haven’t made the choice to get vaccinated yet, delta is the game changer that gives you a reason to reconsider,” said Pat Allen, the director of the Oregon Health Authority.

Oregon joined Louisiana and Washington, D.C., in reinstating universal indoor mask requirements amid a national resurgence of the virus. The U.S. is averaging over 110,000 new COVID cases a day, up from a low of about 11,000 per day in June, according to Centers for Disease Control and Prevention data.

Nevada recently introduced a modified indoor mask mandate that applies to residents in counties with “substantial or high transmission,” while Hawaii never eliminated its indoor mask requirement in the first place.

The CDC in late July recommended that both vaccinated and unvaccinated people resume wearing masks indoors if they live in areas with “substantial or high transmission,” citing new data on the contagiousness of the delta variant.

Rates high in most counties

As of Monday, the CDC had labeled nearly 90% of all U.S. counties as having substantial and high transmission rates. The delta variant accounted for 93% of new cases.

Six states — California, Connecticut, Illinois, New Mexico, New York and Washington — have taken a different approach, requiring only unvaccinated individuals to wear masks indoors in public settings.

Despite the rapidly increasing national caseload and nonbinding CDC mask recommendations, seven states have gone in a direction opposite from Oregon by legally prohibiting local governments or schools from enacting mask mandates.

These seven states are Arizona, Arkansas, Florida, Iowa, Montana, North Dakota and Texas. All are led by Republicans, who have generally defended the bans as protection against infringement on personal freedom.

Bans against mask mandates are already facing legal challenges. Two judges in Texas have issued separate temporary stops to their governor’s executive order banning face-covering requirements in schools and government buildings. Lawsuits have also been filed against the bans in several states, including Florida and Arkansas.

Source: Voice of America

August 10, 2021

BOSS Revolution Partners with Columbus Crew Captain Jonathan Mensah

NEWARK, N.J., Aug. 10, 2021 (GLOBE NEWSWIRE) — IDT Corporation (NYSE: IDT), a global provider of communications and payment services, today announced a partnership with professional soccer player Jonathan Mensah. Jonathan is a renowned defender and team captain for Major League Soccer’s (MLS) Columbus Crew. He has twice represented Ghana on its national team in the World Cup and is a beloved figure in the sport.

Through the partnership, Jonathan will support IDT’s BOSS Revolution brand — including its international money transfer, voice calling and mobile top-up services — as spokesperson and ambassador in its advertising campaigns. He will be featured across broadcast, print, and digital media, and will endorse BOSS Revolution across his digital fanbase.

Because of his personal experiences as both an immigrant to the United States from Ghana and as a long-time BOSS Revolution customer, Jonathan is ideally suited to connect with members of immigrant communities throughout the U.S. including those from Africa and those who share his love of soccer.

“I’m proud to use my voice to help spread awareness of BOSS Revolution,” Jonathan Mensah said. “Like many others, my family remains connected thanks to BOSS Revolution. My family and I trust BOSS Revolution’s voice calling, money transfer and mobile-top up services to help us stay close across borders and oceans, no matter where we are.”

Jonathan’s path to the Columbus Crew highlights the opportunities the United States offers immigrants from all over the globe. Jonathan grew up in Accra, Ghana and learned to play soccer on sand fields while his father worked in the mines. He dreamed of becoming a professional soccer player and played for teams all around the world before joining the Columbus Crew in 2017.

“We are proud to welcome Jonathan to the BOSS Revolution family. His selection as the Crew’s captain and his charitable work helping underprivileged youth in his native Ghana speak to his outstanding character and concern for others,” said Shmuel Jonas, CEO of IDT. “Jonathan’s personal story is uniquely powerful, but it has much in common with other immigrants to the U.S. including their dedication, hard work and desire to attain a better life here while staying close to family and friends back home.”

“Our flagship BOSS Revolution offerings primarily serve immigrant communities,” Mr. Jonas added. “Jonathan’s personal experience using BOSS Revolution to stay in touch with his family enables him to speak from the heart about the value of our services to immigrant families.”

About IDT Corporation:

IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications and traditional communications services. We make it easier for families to connect, support and share across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight.

Our BOSS Revolution branded money transfer, mobile top-up and international calling services make sending money and speaking with friends and family around the world convenient and reliable. National Retail Solutions’ (NRS) point-of-sale retail network enables independent retailers to operate and process transactions more effectively while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. net2phone’s unified communications as a service solution provides businesses with intelligently integrated cloud communications and collaboration solutions across channels and devices. Our IDT Carrier Services and IDT Express wholesale offerings enable communications companies to provision and manage international voice and SMS services.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net

August 10, 2021

Globeleq et Absa refinancent avec succès des centrales d’énergies renouvelables sud-africaines

LONDRES et LE CAP, Afrique du Sud, 10 août 2021 /PRNewswire/ — Globeleq, l’un des principaux producteurs indépendants d’électricité en Afrique, et Absa Bank, groupe financier de premier plan dans le programme de développement des énergies renouvelables en Afrique du Sud, viennent de boucler le refinancement de la dette senior de trois des centrales d’énergies renouvelables de Globeleq. L’objectif du refinancement est d’améliorer la structure du capital des projets, ce qui permet de libérer de la valeur pour les actionnaires et de réduire le tarif de vente pour la société nationale d’électricité et donc pour les consommateurs sud-africains.

Les réductions tarifaires permettront à la société nationale d’électricité d’économiser plus d’un milliard de ZAR sur les trois actifs au cours des 12 années restantes des contrats d’achat d’électricité. Absa Bank a agi en tant qu’arrangeur principal mandaté et unique souscripteur du prêt pour un montant d’environ 5,2 milliards de ZAR.

Cette transaction est le deuxième refinancement d’actifs renouvelables dans le cadre du protocole de refinancement de l’Independent Power Producer Office (IPPO) du Department of Mineral Resources and Energy (DMRE). Globeleq espère refinancer à terme l’ensemble du portefeuille d’actifs que la société possède en Afrique du Sud.

Globeleq s’est engagé de manière proactive depuis juin 2020, après que l’IPPO a demandé aux propriétaires des projets renouvelables sud-africains lauréats des appels d’offres 1-3.5 d’envisager de participer à un programme de refinancement volontaire, et a dirigé le processus de refinancement au nom de tous ses actionnaires dans la centrale éolienne de 138 MW de Jeffreys Bay, et dans les centrales solaires photovoltaïques de 50 MW chacune de De Aar Solar et Droogfontein Solar.

Mike Scholey, le PDG de Globeleq, a déclaré : « Globeleq considère que cette transaction permet de stimuler le marché secondaire, lequel favorisera à son tour de nouvelles opportunités, des emplois, et contribuera au développement économique de l’Afrique du Sud. Nous espérons que d’autres IPP chercheront à faire de même et à réduire le coût de leur électricité pour Eskom. »

Outre la réduction des prix de gros de l’électricité, le refinancement permettra de débloquer des fonds pour les actionnaires, ce qui encouragera le réinvestissement dans le secteur et accélérera les distributions de fonds propres aux trois actionnaires du fonds communautaire, permettant ainsi des dépenses sur des projets durables à fort impact.

Johan Koorts, directeur du financement des ressources et des projets d’Absa, a déclaré : « La banque Absa est l’un des principaux acteurs du programme sud-africain d’énergies renouvelables depuis sa création et a organisé à ce jour le financement d’environ 3 GW de projets à travers différents appels d’offre. Cette transaction montre clairement l’engagement continu d’Absa en faveur du financement des énergies propres et de l’accélération des investissements ayant un impact durable sur les communautés que nous servons. »

Bernard Magoro, chef du bureau IPPO, a déclaré : « Nous tenons à remercier toutes les parties pour l’engagement dont elles ont fait preuve et pour la manière constructive dont elles ont abordé ce refinancement. Nous espérons que la réussite de cette opération permettra à d’autres producteurs indépendants d’avoir confiance dans le processus et les incitera à participer à cette initiative. L’IPPO est fière de participer à cette réalisation. »

À propos de Globeleq
Globeleq est un développeur, promoteur et gestionnaire leader de la production d’électricité en Afrique. La société dispose d’une capacité de production d’électricité de près de 1 500 MW, répartie sur 28 projets au Cameroun, en Côte d’Ivoire, au Kenya, au Nigeria, en Afrique du Sud et en Tanzanie. Avec 305 MW supplémentaires en cours de construction au Kenya (52MWp solaire) et en Côte d’Ivoire (253MW), et 2 000 MW de projets en cours de développement, Globeleq est engagé à long terme dans le secteur de l’électricité en Afrique. www.globeleq.com

À propos de Absa Group Limited
Absa Group Limited (« Groupe Absa ») est coté à la bourse de Johannesburg et est l’un des plus grands groupes de services financiers diversifiés d’Afrique.

Le Groupe Absa offre un ensemble intégré de produits et de services dans les domaines suivants : services bancaires aux particuliers et aux entreprises, services bancaires aux entreprises et d’investissement, gestion de patrimoine et d’investissement et assurance.

Absa est présent dans 14 pays. Le groupe détient des participations majoritaires dans des banques au Botswana, au Ghana, au Kenya, à Maurice, au Mozambique, aux Seychelles, en Afrique du Sud, en Tanzanie (Absa Bank Tanzania et National Bank of Commerce), en Ouganda et en Zambie. Il exerce également des activités d’assurance au Botswana, au Kenya, au Mozambique, en Afrique du Sud et en Zambie. Absa possède également des bureaux de représentation en Namibie et au Nigeria, ainsi que des entités de valeurs mobilières au Royaume-Uni et aux États-Unis.

Pour de plus amples informations sur le Groupe Absa Limited, veuillez consulter le site suivant www.absa.africa

Logo – https://mma.prnewswire.com/media/612609/GLobeleq_Logo.jpg

August 10, 2021

Globeleq And Absa Successfully Refinances South African Renewable Plants

LONDON and CAPE TOWN, South Africa, Aug. 10, 2021 /PRNewswire/ — Globeleq, the leading independent power company in Africa, and Absa Bank, a leading financier in the renewable energy programme in South Africa, have completed the senior debt refinancing of three of Globeleq’s renewable power plants. The purpose of the refinancing is to enhance the projects’ capital structures, allowing for the release of value to shareholders and the reduction of the tariff to the national utility, and ultimately consumers in South Africa.

The tariff reductions will save the national utility more than ZAR 1 billion across the three assets over the remaining 12-year term of the power purchase agreements. Absa Bank acted as the mandated lead arranger and sole underwriter of the c. ZAR 5.2 billion debt financing package.

This transaction will be the second refinancing of renewable assets under the Department of Mineral Resources and Energy’s (DMRE) Independent Power Producer Office (IPPO) Refinancing Protocol. Globeleq hopes to eventually refinance the entire portfolio of assets it owns in South Africa.

Globeleq proactively engaged in June 2020 after the IPPO requested owners of the South African renewable Round 1-3.5 projects to consider participating in a voluntary refinancing programme, and led the refinancing process on behalf of all its shareholders in the 138 MW Jeffreys Bay Wind Farm, 50 MW De Aar Solar and 50 MW Droogfontein Solar plants.

Mike Scholey, Globeleq CEO said: “Globeleq sees this transaction as enabling future secondary market debt, which in turn will stimulate new opportunities, jobs and contribute to the economic development of South Africa. We hope that other IPPs will look to do the same and reduce the cost of their power to Eskom.”

Apart from reducing wholesale electricity prices, the refinancing will unlock funds for the shareholders which, in turn, will encourage re-investment in the sector as well as accelerate equity distributions to the three community trust shareholders, enabling spend on high impact sustainable ventures.

Absa’s Johan Koorts, Resource & Project Finance Principal said: “Absa Bank has been a major supporter of the South African renewable energy programme since its inception and has to date arranged financing for c. 3 gigawatts of projects across various bid windows. This transaction strongly demonstrates Absa’s ongoing commitment to the financing of clean energy and the acceleration of investments that make a sustainable impact on the communities we serve.”

Bernard Magoro, Head of the IPP Office said: “We wish to thank all parties for the commitment shown and the constructive way in which they approached this refinancing and hope that the successful conclusion thereof will lead to more IPPs taking comfort from the process and coming to the fore to participate in this initiative. The IPPO is proud to be part of this achievement.”

Logo – https://mma.prnewswire.com/media/612609/GLobeleq_Logo.jpg