NOA aims to develop, finance and operate a portfolio exceeding 2.5GW of renewable energy assets over time.
As South African businesses increasingly turn to private-sector solutions to address the growing energy crisis, private equity manager African Infrastructure Investment Managers , a subsidiary of Old Mutual Alternative Investments, has doubled its equity commitment to renewable energy platform NOA Group Holdings to the tune of R3.2-billion.
“NOA’s differentiated approach and the rapid progress made by the team in a short space of time has increased our conviction in NOA’s potential to make a significant impact on the energy landscape in South Africa as a world-class developer, owner, operator and trader of renewable energy solutions,” Stumpf said, adding that financing for NOA will be sourced from a combination of equity provided by AIIM’s South African IDEAS Fund and the latest iteration of AIIM’s US dollar-denominated...
“[This initiative] forms part of our wider environmental sustainability strategy that also aims to reach zero waste to landfill and have a 20% reduction of impact on water sources within the next seven years,” Netcare CEO Dr Richard Friedland said. NOA is a vertically integrated energy platform specialising in solutions for commercial and industrial sectors, including large-scale wheeled energy generation using wind, solar and storage technologies.
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