Aug 23, 2018: Africa’s infrastructure-focused private equity fund manager African Infrastructure Investment Managers (AIIM) has acquired stakes in nine new solar and wind power plants in South Africa, through its Infrastructural, Developmental and Environmental Assets (IDEAS) Managed Fund.

Expected to be operational by 2020, all nine power facilities are set to provide an additional 800MW of renewable energy capacity into South Africa’s national power grid.

The power facilities will deliver about 2,425 GWh annually, preventing around 2.4 million tonnes of carbon emissions from traditional fossil fuel power plants per annum. When operating at full capacity, they are expected to supply enough green electricity to power about 522,730 medium-sized South African homes.

This additional clean power capacity has been added under Round 4 of REIPPP, which is committed to securing 2,300MW of new renewable electricity for South Africa’s national grid over the next five years.

IDEAS has acquired a 50.01 per cent equity stake in Bokamoso (67.9MW), Waterloo (75MW), Droogfontien II (75MW), Zeerust (55MW), Greefspan II (75MW) and De Wiltd (50MW).

AIIM also facilitated social and economic benefits which include 100 percent SA ownership, 50 percent direct black ownership, greater than 65 percent black ownership including indirect black ownership and 40 percent black participation in engineering, procurement and construction (EPC) contracts.

The fund has also acquired stakes in three wind farm projects including Roggeveld (147MW), Perdekraal (110MW) and Kangnas (140MW).

Speaking on the investments, Sean Friend, investment director, 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.”

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