Globeleq buys 80 MW of Brookfield's wind, solar parks in S Africa

Solar park. Image by: Globeleq/PRNewswire.

May 30 (Renewables Now) - Independent power producer (IPP) Globeleq has completed the acquisition of four South African renewable energy plants totalling 80 MW from an affiliate of Brookfield Asset Management Inc (TSE:BAM.A).

Globeleq said it has purchased Canada-based Brookfield’s shareholding in the 11-MW Aries, 11-MW Konkoonsies and 31-MW Soutpan photovoltaic (PV) parks and a 27-MW wind farm called Klipheuwel. The deal also gives Globeleq ownership of Brookfield’s South African asset management company.

The assets are part of a larger portfolio, which also includes the 66-MW Bosohof solar plant, whose acquisition is anticipated to close in the coming weeks. All projects were commissioned in 2014 and have in place 20-year power purchase agreements (PPAs) with local utility Eskom.

Globeleq currently owns, operates and manages 238 MW of wind and solar assets in South Africa. The company has financed the latest acquisition with debt provided by Standard Bank.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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