Prescient Investment Management has approved R324-million in equity finance to support black-owned investment company Reatile acquire a 31.5% stake in a 240 MW Free State solar PV project.
The Virginia Solar Park project was selected as part of the sixth bid window of South Africa’s Renewable Energy Independent Power Producer Procurement Programme.
The transaction was facilitated through the Prescient Clean Energy and Infrastructure Debt Fund (CEIDF) and was concluded with Ursa Energy.
Prior to this transaction, the CEIDF had committed over R4-billion to 30 renewable energy projects with a combined capacity of 2.2 GW, as well as other infrastructure developments.