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Globeleq acquires 80MW of Brookfield’s wind, solar parks in South Africa

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Christian Fernsby ▼ | May 31, 2019
Globeleq has completed the acquisition in South Africa of four renewable generation plants and the asset management company from an affiliate of Brookfield Asset Management.
South Africa solar
Acquisition   South Africa solar
The addition of these entities strongly complements Globeleq’s existing renewable power business in South Africa where the company already owns, operates and manages 238MW of solar and wind projects.

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 power purchase agreement with Eskom.

The transaction will unlock additional equity investments into these assets and will foster skills development and knowledge transfer within the local industry.

The transaction has strong synergy with Globeleq’s existing assets and offers an opportunity for further operational improvements and as well as delivering improvements to the existing social and economic development programmes.