Globeleq closes acquisiiton of four renewable assets in South Africa

Globeleq, a power sector leader in Africa, has completed the acquisition of Aries solar (11MW); Konkoonsies solar (11 MW); Soutpan solar (31 MW) and the Klipheuwel wind farm (27 MW). The company signed the deal with an affiliate of Brookfield Asset Management. Acquisition of interests in the Boshof (66 MW) solar plant is expected to close in the coming weeks.

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.

Standard Bank acted as the sole mandated underwriter and arranger of the acquisition debt facility.