African Infrastructure Investment Managers (AIIM) Doubles Equity Commitment to NOA Group Holdings for Renewable Energy Fast-Tracking in South Africa
African Infrastructure Investment Managers (AIIM), a subsidiary of Old Mutual Alternative Investments, is increasing its equity commitment to NOA Group Holdings to a total of USD 180 million. This investment aims to expedite the development of renewable energy sites in South Africa in response to strong client demand and the urgency to address the country’s energy challenges. The financing for NOA will be sourced from a combination of equity provided by AIIM’s South African IDEAS Fund and the latest iteration of AIIM’s USD-denominated pan-African investment fund, AIIF4.
Key Points:
- AIIM is doubling its equity commitment to NOA Group Holdings to a total of USD 180 million to accelerate the development of renewable energy sites in South Africa.
- The decision is driven by strong client demand and the urgency to address South Africa’s significant energy challenges.
- Financing for NOA will come from a combination of equity provided by AIIM’s South African IDEAS Fund and AIIM’s USD-denominated pan-African investment fund, AIIF4.
- NOA Group has agreed to a Renewable Energy supply arrangement with Netcare, covering six facilities currently powered by Eskom. Up to 100% of these sites’ energy consumption will be supplied from renewable sources starting Q1 2026.
- NOA aims to develop, finance, and operate a portfolio exceeding 2.5 GW of renewable energy assets over time.
Analysis: AIIM’s increased investment in NOA Group Holdings reflects a commitment to fast-tracking renewable energy development in South Africa, driven by high demand from clients and the pressing need to address energy challenges. This move underscores the growing emphasis on sustainable energy solutions and their role in balancing environmental priorities with economic and social considerations. The collaboration with Netcare also highlights the potential for significant progress in achieving renewable energy targets for large-scale facilities. AIIM’s expanded equity commitment demonstrates its pivotal role in advancing South Africa’s renewable energy landscape.
