JSE-listed Hulisani has structured an investment path into wind towers producer GRI Wind Steel South Africa through an R82.5-million deal, marking Hulisani’s move “down the renewable-energy value chain”.
The investment holding company provided preference share funding to Pele Green Energy (PGE) wholly owned subsidiary Pele SPV 198 to enable PGE to indirectly acquire 12.5% of GRI, said Hulisani CEO Marubini Raphulu in a statement.
This transaction aligns with Hulisani’s strategy to acquire and invest in a diverse basket of energy-producing assets with the potential for growth, as GRI produces the elements used in the creation of renewable-energy and services a global customer base.
The acquisition is Hulisani’s third this year, following the acquisition of Kouga Wind Farm and solar photovoltaic farm Rustmo1.
“Worldwide, the supply of wind towers continues to outstrip demand and we are excited about the prospect of exporting wind towers while creating jobs and industrialisation in South Africa,” Raphulu concluded.