Actis Capital acquires Africa focused renewables firm
Private equity firm Denham Capital has sold renewable-energy firm BioTherm Energy, which built some of the first wind and solar projects in South Africa, to emerging market investor Actis Capital.
Denham invested in BioTherm Energy through its Fund V and helped build it into a leading African renewable-power company.
BioTherm has 285 MW of wind and solar projects under construction, representing more than $500-million in enterprise value.
“BioTherm’s focus on economic sustainability manifests itself in continually improved internal rates of return on projects throughout their life cycles,” the statement said.
Jasandra Nyker, who is currently the CEO of BioTherm, will become MD of Denham Capital’s International Power Group, following the exit.
Nyker will be responsible for origination, analysis, structuring, valuation and execution of investments for the International Power deal team.
Actis energy team director Lisa Pinsley says the investment in BioTherm will help drive the 300 GW of potential growth in renewable generation across Africa over the next decade.
“With favourable regulatory frameworks around Africa, paired with the cost-competitive price of renewables, we will draw on Actis’s deep relationships and extensive experience in the renewables sector, plus BioTherm’s record and expertise, to continue to help meet the ever-growing demand for clean, reliable power in Africa.”
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