Norton Rose Fulbright South Africa facilitates groundbreaking substantial equity finance facility to Reatile Renewables Virginia (RF) Proprietary Limited

Norton Rose Fulbright South Africa is proud to announce its pivotal role in advising Prescient Investment Management Proprietary Limited, acting as agent of the Prescient Clean Energy and Infrastructure Debt Fund Trust, in providing a substantial equity finance facility to Reatile Renewables Virginia (RF) Proprietary Limited. This facility marks a significant milestone in the financing of renewable energy projects in South Africa.

Under the terms of the transaction, Reatile Renewables Virginia (RF) Proprietary Limited, set to become a 31.5% shareholder in a Round 6 renewable energy project company, will utilise the secured equity finance facility to fulfil its equity contributions to the project. The facility is underpinned by multiple layers of security, ensuring a robust financial framework for all parties involved.

Grounded in our partnership with the Prescient team is a commitment to driving sustainable development and advancing renewable energy initiatives in South Africa, which is underscored by this transaction. We are delighted to have played a pivotal role in structuring this innovative equity financing, which not only supports the growth of the renewable energy sector but also aligns with our client's strategic objectives.

Navigating through complex negotiations and tight timelines, Norton Rose Fulbright South Africa seamlessly coordinated with various stakeholders to ensure alignment between the equity facility and senior financing agreements. The firm's expertise in crafting tailored legal solutions enabled the successful closure of the transaction within a demanding timeframe, meeting the deadline of 30 April 2024.

Our advisory team was led by banking and finance director, Izak Lessing, along with lead associate, Angela Paschalides and candidate attorney, Atish Dullabh.

Norton Rose Fulbright South Africa remains at the forefront of driving impactful investment and innovation in the sector. The firm's dedication to delivering exceptional legal counsel continues to position it as a trusted advisor in the renewable energy space.