- AIIM to provide $90 million to establish a new renewable energy platform.
- NOA has developed a comprehensive and innovative range of solutions for customers.
African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers, will provide the initial equity of up to $90 million to establish a new renewable energy platform to deliver net-zero energy solutions for South Africa.
The renewable energy platform NOA Group Holdings (Pty) Ltd is a vertically integrated energy platform that will provide net-zero oriented renewable energy solutions to customers in the commercial and industrial sectors of the economy. They have developed a comprehensive and innovative range of solutions for customers by providing large-scale wheeled energy generation using wind, solar and storage technologies.
The transaction will be financed through a mix of equity provided by AIIM’s South African IDEAS Fund and the latest iteration of AIIM’s USD-denominated pan-African investment fund, AIIF4.
The investment strengthens AIIM’s position as one of the leading investors in South Africa’s renewable energy landscape, with projects representing over 1.9 GW of solar and wind generation capacity. It also supports the imperative to deliver new renewable energy capacity to address energy sector deficits and accelerate the energy transition.