South Africa: BioTherm closes four REIPPs

BioTherm Energy, a portfolio company of private equity firm Denham Capital, on 25 July reached financial close at four wind and solar projects selected in the fourth round of South Africa’s renewable energy independent power producer programme (REIPPP) in 2015. The projects signed government-backed 20-year power purchase agreements with national utility Eskom in April after years of delay. Until government intervention forced a change in policy, the utility had refused to sign agreements with any project selected through the programme, claiming they would cause further harm to its desperate financial situation.