Reatile Group concludes 20% stake acquisition in juwi's EPC unit
juwi Renewable Energies has concluded a deal with Reatile Renewables, whereby Reatile has taken up a 20% shareholding in juwi’s EPC company, which is currently building three projects for Round 4 of REIPP, together totalling 250 MW of grid-connected solar PV in South Africa.
Reatile entered into the agreement, with the signing of the papers on April 2019.
Juwi Renewable Energies is the EPC contractor for three solar parks totaling 250 MW, awarded in Round 4 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPP) and currently under construction. Reatile is an investor in those projects and in three more.
The context for Reatile entering into the EPC company is one that relates back to the renewable energy IPP programme and the delays in the round 4 projects. In 2018, the Department of Energy renegotiated tariffs and inserted new requirements relating to active black shareholding in the project companies and the contractors contracting into those project companies to deliver the projects.
Reatile is also engaging in a transaction involving juwi's O&M subsidiary company, whereby Reatile would take up an equity stake in that company.
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