https://www.engineeringnews.co.za

Hulisani signs R26.5m deal to earn a stake in solar farm

21st April 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JSE-listed Hulisani has entered into a R26.5-million share sale agreement with Pravin Semnarayan and Gareth Warner to acquire 100% of the issued ordinary shares in holding company Momentous Technologies.

Momentous is currently a 15% shareholder of Rustmo1 Solar Farm – a 7 MW solar photovoltaic plant in Buffelspoort in the North West.

Rustmo1, operated by juwi Renewable Energies, was the first independent power producer to be connected to the grid under government’s Renewable Energy Independent Power Producer Procurement Programme and has been operating since November 2013.

In February, Momentous triggered its pre-emptive right to acquire an additional 51% of the issued share capital of Rustmo1 from existing Rustmo1 shareholders for R88.5-milllion, including interest.

Hulisani will fund the transaction from cash reserves.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.055 1.044s - 122pq - 2rq
Subscribe Now