Oya Hybrid Energy Plant was chosen by Sustainable Debt Award judges as the winner of this year's Green loan of the year (EMEA) award. Proceeds from its green loan will combine three renewable energy technologies – solar PV, wind and battery storage – for the construction of the Oya Hybrid Energy plant, which will provide 128MW of fully dispatchable power to South Africa's national energy provider, Eskom, under a 20-year Power Purchase Agreement.

By using three types of energy, Oya will be able to meet its requirement of providing energy daily from 5:30 to 21:30.

"The need for energy in South Africa is critical, the largest hybrid energy plant is an essential step in helping this issue and can be a template for other African nations," commented one Environmental Finance Awards judge.

"The hybrid renewable power strategy to help provide reliable power through the day and scale of the project are the prime factors in the score," added another.
RMB was the sole mandated lead arranger and bookrunner for the plant. It also underwrote the senior debt and contingent facilities for the project and performed other functions as the hedging bank, account bank, and facility agent.