Infrastructure investment holding company Gaia Infrastructure Capital has transitioned its JSE-listing from special-purpose acquisitions to the investment services sector after a R501-million acquisition of a 25.2% economic interest in the Dorper wind farm.
The acquisition became unconditional in December.
“In line with our listing commitments, we have reached a notable milestone with the completion of our first transaction, enabling Gaia to become a fully fledged infrastructure investment holding company,” says Gaia CEO Prudence Lebina.
Dorper owns a 98 MW wind farm in the Eastern Cape and was part of the first round of the Renewable Energy Independent Power Producer Procurement Programme.
“We have every confidence in Dorper’s prospects. It has been operational since 2014 and has a 20-year power purchase agreement with Eskom, as well as a government- backed guarantee,” Lebina adds.