African Infrastructure Investment Managers has bought majority stakes (50.1%) in nine solar and wind power projects under the government’s renewable energy procurement programme.
AIIM acquired the stakes – in the Bokamoso, Waterloo, Droogfontien 2, Zeerust, Greefspan 2 and De Wiltd solar projects, and Roggeveld, Perdekraal and Kangnas wind farms – through its IDEAS Managed Fund.
The facilities, likely to provide 800MW of renewable energy to the national grid, are expected to be fully operational at the end of 2020.
AIIM investment director Sean Friend said: “We are delighted to have completed these
renewable energy deals. 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.”
Image: Pixabay
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