AIIM to provide R1.6bn to support establishment of renewable energy platform

One of Africa’s largest infrastructure-focused private equity fund managers African Infrastructure Investment Managers (AIIM) has agreed to provide initial equity funding of up to R1.6-billion to support the establishment of a new renewable energy platform NOA Group Holdings to deliver net-zero energy solutions for Africa. The transaction will be financed through a mix of equity provided by AIIM’s South African IDEAS Fund and the latest iteration of AIIM’s dollar-denominated pan-African investment fund AIIF4.