Six more solar photovoltaic (PV) projects situated in the Northern Cape and North West provinces have reached commercial operation, infrastructure equity investment management company African Infrastructure Investment Managers (AIIM) reported on Wednesday.
These projects include the 50 MW De Wildt solar project, the 68 MW Bokamoso solar project, the 75 MW Zeerust solar project and the 75 MW Waterloo solar project in the North West, as well as the 55 MW Boikanyo and the 75 MW Malta A Bokone projects in the Northern Cape.
These projects were awarded under Round 4 of the Renewable Energy Independent Power Producer Procurement Programme and form part of a broader portfolio of renewable assets managed by Energy Infrastructure Management Services (EIMS) Africa.
EIMS Africa is owned by the infrastructure equity IDEAS Fund, which is an AIIM-managed fund, and has one of the biggest South African-owned renewable energy portfolios in the market, which is expected to exceed 1 GW of generation capacity by the end of the year.
EIMS Africa was established as an integrated renewable energy company to manage renewable energy assets that are majority owned by AIIM-managed funds.
With nine existing projects under management and further projects in the pipeline, the platform is positioned for growth and is expected to play a leading role in the growth of the African renewable energy sector, AIIM stated.
“We are pleased to have in place a core team of experts managing a sizeable portfolio of renewable energy investments. We have great plans to grow the business in terms of number of projects and their geographic location and look forward to working with Ryan and his team to make this a reality," said IDEAS Fund portfolio manager Sean Friend.
"With this great foundation in place, the EIMS Africa team is looking forward to an exciting few years ahead as we grow the platform," said EIMS Africa CEO Ryan Hammond.
"I’m extremely proud of the entire team for this achievement, many of whom have been involved with our earlier projects since 2011. This milestone marks the end of a three-year plan that included restructuring the management of existing and new projects and more than doubling the size of our team, while continuing to deliver better-than-expected results for our shareholders and social partners in the midst of the Covid-19 pandemic."