Gaia SA Acquires Northern Cape Solar Farms

Key Figures & Findings: Gaia SA, a subsidiary of Gaia Renewables 1 (GR1) listed on the Cape Town Stock Exchange, has received approval from the Competition Commission to acquire stakes in two solar PV plants—Kalkbult and Linde—in South Africa's Northern Cape. The acquisition includes a 10% interest in each plant, previously held by the IDEAS Renewable Energy Fund, managed by African Infrastructure Investment Managers (AIIM). This strategic move aligns with Gaia Renewables' focus on infrastructure and agricultural investments in renewable energy.

Statistics & Insights: The Kalkbult Solar Plant boasts a capacity of 72.5 MW, while the Linde Solar Plant operates at 36.8 MW. The combined acquisition cost for these stakes, along with a 21% interest in the Jeffreys Bay Wind Farm, exceeds ZAR 700 million

FutureImplications: This acquisition could enhance Gaia Renewables' portfolio, offering diversified, inflation-linked returns to investors. Moreover, it may stimulate further private investment in South Africa's renewable energy sector, supporting the nation's transition to sustainable energy

Source:Moneyweb