Page 18 - Energize September 2022

NEWS

Acquisition supports growth strategy

IMS Africa’s growth strategy, which anticipates a generation capacity of about 1500 About EIMS AFRICA
MW, exceeding 20 renewable energy Independent Power Producers by late-2022, has Energy Africa is majority owned by the
Enecessitated the acquisition of REESCO, a key step in facilitating the expansion. IDEAS Fund, which is managed by African
Already one of South Africa’s largest renewable energy platforms, comprising a Infrastructure Investment Managers
portfolio of 13 utility-scale renewable energy projects with a combined generation capacity (Pty) Ltd. As a leading renewable energy
of over 850 MW, the company’s bullish plans are in line with the country’s accelerated company, the EIMS Africa portfolio has
move to renewable energy. With this, the successful acquirement of Renewable Energy an installed capacity of over 850 MW,
Empowerment Management Services (Pty) Ltd, known as REESCO in the local renewable generates combined revenues of more than
energy market, will see its team joining EIMS Africa to bolster capacity and capabilities. R3-billion annually and represents a total
Ryan Hammond, EIMS Africa CEO, explained the motivation for the transaction. “We investment of more than R15-billion.
are in a significant growth phase, having started with just three projects back in 2018 and
having grown the platform to 13 projects to date. We have several other secured projects About African Infrastructure
at various stages of the financial close process and by the end of this year, we expect that Investment Managers (AIIM)
number to almost double, along with our platform’s generation capacity. This growth is not AIIM, a member of Old Mutual Alternative
possible without a dedicated team of experienced individuals who know what it takes to Investments* (OMAI), has been investing in
deliver and operate these projects. The REESCO acquisition is a key step in facilitating our the African infrastructure sector since 1999
growth as it augments the depth and experience of our team.” with a track record extending across seven
REESCO’s team adds its experience as an expert management services company that African infrastructure funds. AIIM’s team
specialises in technical, administrative and compliance competencies related specifically to of 40+ investment professionals is based
South Africa’s Renewable Energy Independent Power Producer Procurement Programme out of five locally staffed offices across the
(REIPPPP) regulatory environment. continent in Cape Town, Johannesburg,
Dr Tamuka Kaseke, founder and CEO of REESCO, added, “We believe this is a win-win Nairobi, Lagos and Abidjan, providing direct
transaction for both parties. EIMS Africa gets to take on a solid and seasoned team with on-the-ground coverage of our key markets.
over eight years’ experience, whilst the REESCO staff get an opportunity to diversify their AIIM currently manages an aggregate
knowledge and experience base in terms of renewable energy asset management. We wish AUM of US$2,4-billion in assets across
them well in their new growth path.” the power, renewable energy, digital
EIMS Africa is majority owned by the Old Mutual IDEAS Fund, managed by African infrastructure, mid-stream energy and
Infrastructure Investment Managers (AIIM). In closing, Sean Friend, the AIIM CIO for SADC transport sectors with operations in 19
investments and Co-Portfolio Manager of the IDEAS Fund, concluded, “’We are committed African countries. AIIM’s power portfolio
to continuing to play a leading role as one of the largest South African-owned investors in extends across renewable energy and
the local renewable energy industry. EIMS Africa is the primary vehicle for this investment thermal power assets which have a
and this acquisition further signals our ongoing commitment to growing the EIMS Africa combined generation capacity of over
renewable platform.” 2700 MW, of which 72% is renewable
energy providing clean power to more
than 1,1-million households a year. AIIM is
a licensed FSP approved by the Financial
Sector Conduct Authority in South Africa.

*Old Mutual Alternative Investments
(OMAI) is a private alternative investment
manager in Africa, with over USD4.8 billion
(ZAR76 billion) under management in
infrastructure, private equity, hybrid equity
and impact funds. It is a member of Old
Mutual Investment Group, the investment
management arm of Old Mutual.

Contact EIMS Africa,
Phone 021 670-1400,
info@eimsafrica.com,
https://eimsafrica.com/

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