AEP debuts on JSE’s AltX

30th June 2017 By: Natasha Odendaal - Creamer Media Senior Deputy Editor

AEP debuts on JSE’s AltX

The debut of black-empowered clean energy group AEP Energy Africa on JSE’s AltX marks the start of new beginnings for the company which is aiming to become “Africa’s clean energy champion”.

Speaking to Engineering News Online post the listing celebrations, AEP COO Nkosi Gugushe boasted about the ambitions of the company, starting with the first acquisition of a potential $320-million identified pipeline across the continent.

“Through our work . . . we hope to change how Africans, economies, people and companies benefit from the use of clean energy and help drive the energisation of Africa,” he said.

Listed as the JSE’s seventh special purpose acquisition company on AltX, AEP plans to raise about R400-million to kick off the acquisition, redevelopment and operation of a portfolio of assets in liquefied natural gas, power generation, battery energy storage, power distribution and fuel logistics.

The group has a particular interest in the increased use of natural gas as the primary baseload fuel to replace both coal and diesel.

AEP, which plans to acquire mostly controlling stakes in operations, now has two years to make its first viable acquisition, after which the group will pursue a listing on the main bourse as it transitions into an operating power group.

“AEP’s initial acquisition targets are all already cash generating and negotiations to acquire several assets are under way,” said AEP CEO Edwin Kikonyogo.

With the listing under its belt, AEP opened opportunities to raise awareness of alternative clean energy solutions and now has access to a broader pool of capital to fund growth.