South African independent power producers (IPP) BTE Renewables has bought Sonnedix Solar South Africa from Sonnedix Power Holdings.
In doing so, it has acquired a 60% interest in the collective vehicle ‘Mulilo Sonnedix Prieska PV’ which owns the 75MW Prieska solar project in the Northern Cape.
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The purchase has increased BTE Renewables’ portfolio of renewable energy IPPs in the region to 473MW, the company said in a statement, adding the acquisition “fully complements” its existing power plants located in South Africa and Kenya.
The remaining 40% stake in the project is split between Mulilo Energy Holdings (20%), Ixowave (15%) and the Prieska PV Community Trust (5%), with BTE Renewables set to take on the management of the project, which was connected to the grid six years ago.
“This acquisition clearly demonstrates our commitment to growing our renewable energy asset portfolio, as it is complementing our organic growth from our strong portfolio of development projects,” said Robert Skjodt, CEO of BTE Renewables.
“The Prieska project is a natural fit for our two solar PV plants in the same area of South Africa, whilst successfully increasing our operating project portfolio to 473MW.”
Wholly-owned by London-based private equity company Actis, BTE Renewables has a portfolio of six IPPs in Africa. At the start of the month, Actis agreed to sell its Sprng Energy renewables platform to energy major Shell for US$1.55 billion.