AIIM exits three South African renewable energy investments
The assets include two solar PV projects and one wind venture.
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African Infrastructure Investment Managers (AIIM), through its IDEAS Fund, has exited stakes in three South African renewable energy assets, in a transaction valued at over R750 million (about $41.8 million). The assets include two solar photovoltaic (PV) projects and one wind project, all developed under South Africa’s Renewable Energy Independent Power Producers Procurement Programme (REIPPPP).
The transaction involves the sale of AIIM's 21% stake in the Jeffreys Bay Wind Farm, a 138 MW facility located in the Eastern Cape, to existing shareholders in the project Enzani and Usizo. Additionally, AIIM has exited its 10% holdings in both the Kalkbult (73 MW) and Linde (38 MW) solar PV projects in the Northern Cape, with Gaia Renewables 1, listed on the Cape Town Stock Exchange, acquiring these stakes.
Zaahid Ganey, investment director at AIIM said: “AIIM has been a committed investor in these high-quality renewable energy assets since their financial close more than 12 years ago and they have delivered strong returns while contributing significantly to the sector’s growth. This successful exit reinforces AIIM’s strong track record in renewable energy, aligns with our strategic focus on majority-controlled investments and ensures value realisation for our investors.”
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