Globeleq, Brookfield enter agreement for the sale of six African renewable projects

Globeleq, a power sector leader in Africa, and an affiliate of Brookfield Asset Management have reached a definitive agreement whereby Globeleq acquires Brookfield’s interests in its South African renewable energy portfolio. The agreement is subject to various closing conditions and once fulfilled, will give Globeleq a majority shareholding in six renewable projects totaling 178 MWs, as well as ownership in Brookfield’s South African asset management company.

The assets include five solar assets: Aries (11MW), Boshoff (66MW); Konkoonsies (11 MW); Soutpan (31 MW), and Witkop (33 MW) and the Klipheuwel wind farm (27 MW). The six projects were part of rounds 1 and 2 of the South African Government’s renewable energy programme and reached commercial operations in 2014. All plants have a 20-year power purchase agreement with Eskom.