African Infrastructure Investment Managers has agreed to provide up to USD 90mn (ZAR 1.6bn) investment into renewable energy platform NOA Group Holdings.
The infrastructure manager’s commitment supports the establishment of the platform. It will be financed through a mix of equity provided by AIIM’s South African IDEAS Fund and AIIF4. Initial funding will be used to conclude the construction of existing projects and achieve financial close on projects amounting to almost 100MW.
AIIM will also seek opportunities to develop investment projects in other key African markets where it has portfolio assets and on-the-ground experience to ensure the group can establish its presence as a regional energy solutions provider in key hubs across Africa.
About NOA Group
The company is a vertically-integrated energy platform that will provide net zero-oriented renewable energy solutions to customers operating in the commercial and industrial sectors of the economy. It aims to develop, finance and operate a portfolio in excess of 1GW of renewable assets over time.
NOA aims to develop, finance and operate a portfolio in excess of 1GW of renewable energy assets over time.