South Africa’s TBI Investment Managers has completed its first renewable energy deal with a R440m ($29m) refinancing of Emvelo’s 15% equity stake in the 100MW Karoshoek Solar One concentrated solar power project, which came online in 2018. The deal was done through TBI’s Amandla Renewable Energy Fund, which was set up in 2019 to focus on refinancing equity stakes in South Africa’s renewable energy IPP procurement programme (REIPPP), TBI head of renewable energy Laurentius Human told African Energy.
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