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Renergen Secures US$750mm Funding for its Phase 2 Project in SA

Updated: Jul 3, 2023

Renergen received approval for a US$500mm senior debt funding from the US International Development Finance Corporation and a US$250mm debt facility from the Standard Bank of South Africa for its Virginia Gas Project. This marks a major milestone for Renergen, reflecting the project's quality and potential impact on local and global levels. Renergen has successfully completed Phase 1 of the Virginia Gas Project and is producing LNG and liquid helium. The loans are subject to standard conditions precedent including completion of a mandatory US Congressional notification period, raising sufficient equity and approval by lenders of the EPC and O&M contractors.

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