AIIM takes stakes in 9 renewable energy projects

African Infrastructure Investment Managers or AIIM has taken stakes in nine new solar and wind power plants in South Africa. The equity deal, which is being transacted on behalf of AIIM’s IDEAS Managed Fund, sees the infrastructure-focused private equity manager acquire a 50.01% stake in each of the projects, which, when fully operational, will provide an additional 800MW of renewable energy capacity to South Africa’s national power grid. The investments form part of the fourth round of the South African Government’s REIPPPP Program, and help consolidate AIIM’s position as the leading equity investor under the program. In 2017, AIIM-backed assets generated 25% of the clean energy supplied to the country’s national grid.

“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,” commented Sean Friend, an Investment Director at AIIM, adding that “We are looking at almost R9 billion (or approximately $630 million at current rates) in total capital expenditure across these power projects, where IDEAS is the main Sponsor.”


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