Tuesday, November 29, 2022
HomeNewsAfricaOld Mutual’s AIIM to invest in 1GW South Africa solar farm

Old Mutual’s AIIM to invest in 1GW South Africa solar farm

SolarAfrica and Starsight Energy are in the process of merging to create a pan-African solar power supplier. AIIM, which has $2.4bn under management, is part of Old Mutual Alternative Investments and manages private-equity African infrastructure funds. It first invested in Starsight in 2018 and is now contributing $73m through its IDEAS Fund to accelerate the growth of the new company.

The main use of that money will be to build a new solar farm at De Aar in Northern Cape province, Agbaje says, declining to give an exact figure. Power from the farm will be transmitted across South Africa’s grid to commercial and industrial (C&I) customers, displacing the use of dirtier fuels such as coal, Agbaje says.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments