Through its IDEAS Managed Fund (IDEAS), African Infrastructure Investment Managers (AIIM), an infrastructure-focused private equity fund manager, has acquired a majority stake in three solar projects in South Africa. The 30 MW solar portfolio reached financial close in May 2022, with commercial operations scheduled in March and April 2023. The projects will be connected through a combination of wheeling and behind-the-meter solutions, feeding energy into Harmony operations in the Welkom area in South Africa.
Upon completion, the projects will deliver 68 GWh of clean energy in the first twelve months of operations and 1.3 TWh over the 20-year lifespan of the projects. The energy provided by the portfolio is expected to mitigate 65,000 tonnes of carbon dioxide emissions in the first year of operations. The construction is scheduled to begin in June 2022.
In April 2021, according to South Africa’s Department of Mineral Resources and Energy, the sixth round of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP) began in South Africa. The authorities intend to provide companies with 1 GW of utility-scale solar and 1.6 GW of wind in the REIPPPP’s sixth round. Reportedly, the companies interested in participating in the auction have until April 12, 2022, to download the necessary documentation.
