AIIM acquires nine solar and wind power plants in South Africa
23-08-2018 06:10:53 | by: Bob Koigi | hits: 1798 | Tags:

African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers and a member of Old Mutual Alternative Investments (OMAI), has acquired through its IDEAS Managed Fund - stakes in nine new solar and wind power plants in South Africa.

When all nine power facilities are fully operational, expected at the end of 2020, they will provide an additional 800 MW 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 mediumsized 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.

Through IDEAS’ position as the lead sponsor of the projects, AIIM facilitated social and economic benefits which include 100% SA ownership, 50% direct black ownership, greater than 65% black ownership including indirect black ownership, and 40% black participation in engineering, procurement and construction (EPC) contracts, and the transition to majority black-owned operations and maintenance contractors.

Since its foundation in 1999, AIIM’s IDEAS Managed Fund has completed 35 investments in infrastructure projects that are vital for economic growth, produce tangible social and environmental benefits, and are capable of delivering strong longterm returns to investors.

As part of OMAI, AIIM is a responsible investor committed to sustainable development in Africa.

www.aiimafrica.com