Global independent power producer (IPP) Sonnedix Power Holdings Ltd. has sold its South African solar business to pan-African peer BTE Renewables, leaving behind a 75-MW solar farm and exiting the market.
Both the buyer and the seller announced the transaction, without disclosing the price.
BTE took over Sonnedix Solar South Africa, which owns 60% interest in vehicle Mulilo Sonnedix Prieska PV (RF) Proprietary Limited. This vehicle owns the 75-MW Prieska solar farm in the Prieska region in Northern Cape.
The remaining 40% stake in Prieska is divided between Mulilo Energy Holdings, which controls 20%, with Ixowave and the Prieska PV Community Trust holding 15% and 5%, respectively.
The Prieska solar farm, spanning 125 hectares (308.8 acres) of agricultural land, operates as an IPP. It reached commercial operation in July 2016. Juwi Renewable Energy acted as the engineering, procurement and construction (EPC) on the project, and will remain in charge of the solar plant’s operations and maintenance (O&M), BTE said.
“We are moving our operations away from South Africa in order to align our sustainable growth strategy across OECD markets,” commented Axel Thiemann, CEO of Sonnedix.
With this acquisition, BTE Renewables now has six IPPs in Africa, including wind and solar power operations in South Africa and the 102-MW Kipeto wind farm in Kenya
BTE Renewables is backed by private equity investor Actis.