Globeleq completed the acquisition of four renewable energy plants and an asset management company in South Africa from an affiliate of Brookfield Asset Management.
The solar assets acquired include Aries (11MW); Konkoonsies (11 MW) and Soutpan (31 MW) and the Klipheuwel wind farm (27 MW). Acquisition of interests in the Boshof (66 MW) solar plant is expected to close in the coming weeks. The projects originally reached commercial operations in 2014 and have a 20-year PPA with Eskom.
The addition of these entities strongly complements Globeleq’s existing renewable power business in South Africa where the company already owns, operates and manages 238 MW of solar and wind projects.
Paul Hanrahan, Globeleq’s CEO commented: “The addition of these renewable plants further establishes Globeleq’s position as a power sector leader in Africa by expanding our renewable energy footprint across the continent. This acquisition will deliver significant value for all stakeholders, including the local community.”