AIIM closes acquisition of majority stakes in South African 800 MW RE portfolio

African Infrastructure Investment Managers (AIIM), through its IDEAS Managed Fund, has closed the acquisition of the 50.01% interest in nine new solar and wind power plants in South Africa with a combined capacity of 800 MW. The projects are expected to enter service  by the end of 2020 supplying 2,425GWh of electricity annually to South Africa’s national power grid, to power the equivalent of more than half a million homes.

The portfolio includes:

• 140 MW Kangnas wind project in Northern Cape

• 110 MW Perdekraal East wind project in Western Cape

• 147 MW Roggeveld wind farm in the Karoo region

• 50 MW De Wiltd solar project

• 75 MW Waterloo solar project

• 75 MW Greefspan II solar project

• 75 MW Droogfontien II solar project

• 67.9 MW Bokamoso solar project

• 55 MW Zeerust solar project

The projects were awarded under Round 4 of REIPPP, which is targeting 2.3GW of new renewable electricity for South Africa’s national grid over the next five years.