The Mainstream Renewable Power's 50 MW Ilikwa solar PV plant supplies multiple private commercial and industrial customers under flexible, shorter-term Power Purchase Agreements (PPAs) in a new-to-market product called Renewable Energy Supply Agreements (“RESAs”).
A.P. Moller Capital has agreed to acquire 100% of Mainstream Renewable Power South Africa, marking a significant investment in the country’s rapidly expanding renewable energy sector and strengthening the investor’s ambitions to build a leading independent power producer in South Africa.
The transaction, announced on Wednesday, will see A.P. Moller Capital’s Emerging Markets Infrastructure Fund II (EMIF II) acquire the renewable energy developer and independent power producer from Mainstream Renewable Power, subject to regulatory and third-party approvals.
The acquisition underscores growing investor confidence in South Africa’s renewable energy market, which continues to attract capital as the country seeks to address rising electricity demand, replace aging coal-fired power stations and accelerate the transition to cleaner energy sources.
If approved, the acquisition is expected to further accelerate renewable energy development in South Africa while positioning A.P. Moller Capital to play a larger role in the country’s evolving energy landscape.
