STANLIB Infrastructure Fund II backs 80 MW solar plant in South Africa
The STANLIB Infrastructure Fund II seeks to deliver secure, cost-effective and cleaner power to a platinum mine in Limpopo.
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The STANLIB Infrastructure Fund II has partnered with Energy Group, Royal Bafokeng Holdings and Northam Platinum, one of South Africa’s biggest platinum miners, to deliver secure, cost-effective and cleaner power to the Zondereinde platinum mine in Limpopo.
The fund holds a 51% equity stake in Northam’s Zondereinde solar farm. Construction on the 80 megawatt plant has commenced on the mine’s 9,257 hectare licence area, with power expected to be available from December 2025.
The additional 80 megawatt generation capacity will add to STANLIB Infrastructure Investments’ energy portfolio, which, with a total capacity of 1.7 gigawatts, accounts for approximately 28% of South Africa’s installed utility-scale renewable energy capacity. The portfolio has equity interests in 20 utility-scale renewable energy projects, valued at over R12 billion ($691 million).
“The retirement fund industry is a key catalyst in addressing SA’s acute need for infrastructure which is urgently needed to grow the economy and drive employment opportunities for our people. STANLIB’s Infrastructure Fund facilitates responsible investments in long-term value-enhancing opportunities that benefit both retirement fund members and the broader economy,” says Greg Babaya, co-head of infrastructure investments at STANLIB.
STANLIB Infrastructure Investments mobilises retirement fund capital for attractive infrastructure projects, with a bias towards renewable energy and digital infrastructure.
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