When all nine power facilities are fully operational, expected at the end of 2020, they will provide an additional 800 MW of renewable energy capacity to South Africa’s national power grid. The power facilities will deliver about 2,425 GWh annually, preventing around 2.4 million tonnes of carbon emissions from traditional fossil fuel power plants per year. They are expected to supply enough green electricity to power approximately 523,000 medium-sized South African homes.
This additional clean power capacity has been added under Round 4 of REIPPP, which is committed to securing 2,300 MW of new renewable electricity for South Africa’s national grid over the next five years.
AIIM’s IDEAS Managed Fund has acquired a 50.01 percent equity stake in each of the following solar projects:
The Fund has also acquired stakes in three wind farm projects:
Commenting on the investments, Sean Friend, Investment Director at AIIM, said, “The new plants will provide essential clean energy to the grid which, in addition to environmental benefits, will help boost economic growth by creating jobs in construction and follow-up operations and maintenance. We are looking at almost ZAR 9 billion ($617 million) in total capital expenditure across these power projects, where IDEAS is the main sponsor.”
(Graphic Provided by Energy.org.za)
