AIIM buys majority stakes in nine renewable projects in South Africa

A South Africa focused fund managed by African Infrastructure Investment Managers (AIIM) has bought majority stakes in nine solar and wind power projects under the government’s procurement programme.

AIIM, through its IDEAS Managed Fund, acquired a 50.01% equity stake each in the Bokamoso, Waterloo, Droogfontien II, Zeerust, Greefspan II and De Wiltd projects. The fund has also bought stakes in the Roggeveld, Perdekraal and Kangnas wind farm projects.

The investment was made under the South African government’s Renewable Energy Independent Power Producer Procurement programme.

The nine power facilities are expected to be fully operational at the end of 2020. They are expected to provide an additional 800MW of renewable energy capacity into South Africa’s national power grid.

Sean Friend, an investment director at AIIM said: “We are looking at almost ZAR9bn (€541.4m) in total capital expenditure across these power projects, where IDEAS is the main Sponsor.

“Being able to successfully conclude deals of this scale reflects the strength and depth of AIIM’s team which has the expertise necessary to handle a sponsorship role of this magnitude.”

Since its foundation in 1999, AIIM’s IDEAS Managed Fund has completed 35 investments in infrastructure projects. AIIM is a member of Old Mutual Alternative Investments.


Related images

  • Solar

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2573

    Asset class: Real Estate.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-06.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2576

    Asset class: Small Caps Equity.
    Asset region: US.
    Size: $>100m.
    Closing date: 2019-12-09.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

Begin Your Search Now