The projects were awarded under Round 4 of REIPPP. Credit: Droogfontein
Fund manager African Infrastructure Investment Managers (AIIM) has acquired majority stakes in nine new solar and wind power plants in South Africa, totaling 800MW.
The projects are expected to become fully operational at the end of 2020 supplying 2,425GWh of electricity annually to South Africa’s national power grid, to power the equivalent of more than half a million homes.
The projects were awarded under Round 4 of REIPPP, which is targeting 2.3GW of new renewable electricity for South Africa’s national grid over the next five years.
AIIM’s IDEAS Managed Fund, which is one of South Africa’s largest domestic infrastructure equity funds, has acquired a 50.01% equity stake in each of the following solar farms:
- Bokamoso 67.9MW
- Waterloo 75MW
- Droogfontien II 75MW
- Zeerust 55MW
- Greefspan II 75MW
- De Wiltd 50MW
It also acquired stakes in three wind farm projects:
- Roggeveld 147MW
- Perdekraal 110MW
- Kangnas 140MW
Sean Friend, investment director at AIIM said: “The new plants will provide essential clean energy to the grid which, in addition to environmental benefits, will help boost economic growth by creating jobs in construction and follow-up operations and maintenance. We also expect the investment to stimulate further economic development in the areas where the new renewable facilities are located."
May 26 - May 27, 2021
Looking at the drivers and dynamics of utility scale solar in the UK & Ireland over the next five years. This event will consider the immediate challenges as we enter the build phase in both these markets where we could see as much as 4GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in both markets?Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.
Feb 03 - Feb 04, 2021
The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.