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 made available 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.