STANLIB Asset Management acquires a majority interest in renewable energy solutions specialist Solareff
STANLIB Asset Management, a leading South African investor in sustainable infrastructure, has announced the acquisition of a controlling equity interest in Solareff, through its STANLIB Infrastructure Fund II. Closing of the transaction remains subject to obtaining the relevant regulatory approvals.
Parallel to the acquisition of Solareff, STANLIB has also established Solareff Green which offers capex-free energy solutions to C&I customers via power purchase agreements (‘PPA”). STANLIB has committed substantial capital to fast track the build-out of capex free energy solutions for the C&I market through Solareff.
“We are all excited about Solareff’s new PPA offering to the market. STANLIB’s commitment to provide funding for capex-free power solutions and vast experience in managing infrastructure investments played a critical role in our choice of strategic partner. This investment is the beginning of our next chapter as Solareff continues to play a critical role in South Africa’s energy transition” says Jaco Botha, CEO and co-founder of Solareff.
Read our official press release here.