Brookfield Asset Management is to sell its renewable energy assets in South Africa to Globeleq for an undisclosed price.
The six projects include five solar farms and one wind farm with a combined capacity of 178MW.
Brookfield’s South African asset management company is also part of the deal.
The agreement is subject to various unnamed closing conditions and, once completed, will give Globeleq a majority shareholding in the projects.
The solar farms are the 66MW Boshoff, 33MW Witkop, 31MW Soutpan and 11MW each Aries and Konkoonsies projects. The wind farm is the 27MW Klipheuwel facility.
All the plants have 20-year power purchase agreements with state-owned energy company Eskom.
Globeleq chief executive Paul Hanrahan said: “Our team is working hard to complete this very exciting transaction.
“The expertise of our South African team will be able to enhance these assets by driving operational improvements and improve the existing social and economic development programmes.”
Globeleq owns and operates almost 1.3GW of generating capacity across five countries in Africa and has a further 2GW under development.
Image: Pixabay
Brookfield sells South Africa stable
By EBS