- AIIM is raising $376m for clean energy projects in SADC.
- The company has secured commitments from 19 major investors.
The private equity fund manager, African Infrastructure Investment Managers (AIIM), is raising $376 million to finance clean energy projects in Southern Africa. AIIM has secured commitments from 19 major South African institutional investors and pension funds, with two-thirds of the capital committed by new investors in IDEAS Managed Fund (Ideas).
According to AIIM, “the current fundraising has been concluded to support the deployment of a portfolio of assets in the power, digital infrastructure and transport sectors over the next three years, underpinned by long-term economic and environmental sustainability objectives.” AIIM adds that the ideas fund has allocated 75% of its investments in the South African clean energy sector since its inception. AIIM currently manages stakes in several operating solar and wind farms in South Africa, including Bokamoso (75 MWp), Waterloo (75 MWp), Kangnas (140 MW), Roggeveld (147 MW), Khobab (140 MW) and Perdekraal East (110 MW). However, AIIMM still has stakes in several fossil fuel assets, including the 600MW Kelvin coal-fired power plant in South Africa and the 120MW Gigawatt thermal power plant in Mozambique.