AIIM Successfully Exits R750 Million Renewable Energy Investments
Deal News | Jul 16, 2025 | African Infrastructure Investm
African Infrastructure Investment Managers (AIIM), a unit of Old Mutual Alternative Investments, has exited its investments in three South African renewable energy assets for over R750 million. These assets comprise a 21% stake in the Jeffreys Bay Wind Farm and 10% stakes in the Kalkbult and Linde Solar PV projects. AIIM's strategic exit from these projects, initially developed under South Africa's Renewable Energy Independent Power Producers Procurement Programme (REIPPPP), underscores the growing strength of secondary markets in the country's renewable energy sector. This divestment aligns with AIIM's strategic focus on majority-controlled investments, showcasing its ability to deliver strong investor returns. The projects have had a significant social impact, contributing over R100 million to local communities and supporting South Africa's transition to cleaner energy. With these transactions closing, AIIM continues to demonstrate its commitment to driving growth in the renewable energy sector.
Sectors
- Renewable Energy
- Infrastructure Investment
- Private Equity
Geography
- South Africa – The entire article pertains to investment activities and markets relating to renewable energy in South Africa.
Industry
- Renewable Energy – The article revolves around investments in renewable energy projects such as wind and solar, crucial for sustainable energy solutions.
- Infrastructure Investment – The transaction highlights the strategic role of infrastructure investment in developing and managing energy projects.
- Private Equity – AIIM as part of Old Mutual Alternative Investments is involved in private equity activities through its investment in renewable energy projects.
Financials
- R750 million – The value of the transaction for AIIM’s exit from the renewable energy projects.
- 138 MW – The capacity of Jeffreys Bay Wind Farm.
- 73 MW – The capacity of the Kalkbult Solar PV project.
- 38 MW – The capacity of the Linde Solar PV project.
- R100 million – Social spend contributed by the assets to local communities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| African Infrastructure Investment Managers (AIIM) | Investor/Seller | Company | A subsidiary of Old Mutual Alternative Investments involved in infrastructure investment and private equity. |
| Old Mutual Alternative Investments | Parent Company | Company | AIIM's parent company managing alternative investment strategies. |
| IDEAS Fund | Investment Fund | Company | The fund managed by AIIM used for investing in the renewable energy projects discussed. |
| Jeffreys Bay Wind Farm | Project | Company | One of the renewable energy assets from which AIIM exited. |
| Kalkbult Solar PV project | Project | Company | One of the solar photovoltaic projects involved in the transaction. |
| Linde Solar PV project | Project | Company | Another solar photovoltaic project in the transaction. |
| Gaia Renewables 1 | Buyer | Company | Acquired AIIM’s stakes in the Kalkbult and Linde Solar PV projects. |
| Enzani | Buyer | Company | Existing shareholder in Jeffreys Bay Wind Farm. |
| Usizo | Buyer | Company | Existing shareholder in Jeffreys Bay Wind Farm. |
| Zaahid Ganey | Investment Director | Person | Investment Director at AIIM, quoted regarding the transaction. |