The Competition Commission has unconditionally approved investment holding company Volo’s acquisition of shares in Solar Capital De Aar from the Public Investment Corporation.
Solar Capital De Aar is a special-purpose company whose sole business is to operate as an independent power producer. The company is a participant in the Department of Mineral Resources and Energy’s Renewable Energy Independent Power Producer Procurement Programme, which is aimed at bringing additional megawatts onto the country’s electricity system through private sector investment in solar, wind, biomass and small hydro, among others.
"The commission found that the proposed transaction is unlikely to result in substantial prevention or lessening of competition in any relevant markets. The commission further found that the proposed transaction does not raise substantial public interest concerns," it said in a statement.