Denham Capital continues investment in BioTherm Energy for Round 4 and Expedited Window Projects

14th March 2016

  

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African Independent Power Producer, BioTherm Energy, has emerged as a dominant player following the South African Department of Energy’s last announcement of Preferred Bidders for Round 4 of its Renewable Energy Independent Power Producer Procurement Program. The company won preferred bidder appointment for a further four projects, totaling 284MW of wind and solar projects, building off its track record of success. Additionally, it has participated in the Expedited Bid Window and plans to continue participating in the REIPPP program.

Denham Capital, a leading energy and commodities global private equity firm with over US $8 billion of assets under management (www.denhamcapital.com) have backed BioTherm Energy since 2008, facilitating the development, construction, acquisition and financing of a pipeline of renewable energy projects. At the time, this transaction was the largest renewable energy investment in Africa. With the increased success of BioTherm Energy in the African market, Denham is committed to continue to build renewable energy projects across the African continent, building on BioTherm Energy’s track record.

Scott Mackin, Co-President and Managing Partner of Denham Capital stated: “Denham Capital is proud to financially support BioTherm Energy’s Round 4 and Expedited Window projects. BioTherm Energy is an excellent case study where Denham provided the capital and helped build an African-based IPP that develops cost competitive power projects to the highest international standards, all of which is executed by a uniquely local team. A South African entity, BioTherm Energy has positioned itself as a leading African IPP and has successfully constructed and now operates 49MW of wind and solar projects in South Africa. The company also bid several projects into the Expedited Bid window, for which Denham hopes to be able to further invest in competitive power that will assist in solving the country’s growing power crisis. Further, BioTherm Energy owns and operates a 4.2MW waste gas project at the PetroSA Gas-to-Liquids Refinery in Mosselbay, Western Cape.

Jasandra Nyker, BioTherm Energy CEO stated: “The approval of Denham’s funding for Round 4 and the Expedited Window is testament of its commitment towards investing in renewables in South Africa. We believe that our model evidences what is possible for South African entities with sound foreign direct investment, underpinned by sound State policies and programmes.”

Nyker further stated, “Having already brought our Round I wind and solar assets online, BioTherm Energy will continue to set itself apart as a leading local player. We are looking to start construction of the Round 4 assets as soon as Financial Close is achieved. In addition, BioTherm is waiting to hear on the Expedited Window. The company has also recently been successful in the rest of Africa, being shortlisted for wind and solar in Morocco, Egypt and is also planning to close projects in Burkina Faso later this year. BioTherm Energy is also actively developing greenfield opportunities throughout Africa. “BioTherm Energy’s focus on other African countries is equally important to its growth strategy in South Africa”, highlighted Nyker.

Regionalized growth of renewable energy, such as wind or solar, offers significant economic upliftment and assists in improving the local value chain. The recent announcement of the Round 4 projects adds to South Africa’s energy evolution and is a further step towards a sustainable, low carbon energy future. BioTherm Energy is committed to being a leader in Africa’s renewable energy rollout by ensuring that its projects are built on time, within budget and also ensuring that its projects catalyse sustainable economic development in the communities in which they operate.

Edited by Creamer Media Reporter

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