AIIM announces completion of construction of portfolio of 6 solar PV projects

AIIM recently celebrated the achievement of Commercial Operation of the last of six solar PV projects awarded under Round 4 of the Renewable Energy Independent Power Producers Procurement Programme (REIPPPP). The Projects, situated in the Northern Cape and North West Provinces, form part of a broader portfolio of renewable assets managed by EIMS Africa.

EIMS Africa is owned by the IDEAS Fund, an AIIM managed fund, and constitutes one of the largest South African owned renewable energy portfolios in the market and is expected to exceed 1GW of generation capacity by the end of the year.

EIMS Africa was established as an integrated renewable energy company to manage Renewable Energy Assets that are majority owned by AIIM managed funds. Vuyo Ntoi, Joint Managing Director of AIIM, explained “This is an excellent achievement in difficult circumstances, and was down to the success of a committed team of professionals, proving the worth of this integrated management approach to delivering and managing these assets.”

With nine existing projects under management and further projects in the pipeline, this platform is positioned for growth and is expected to play a leading role in the growth of the African renewable energy sector. Sean Friend, Portfolio Manager of the IDEAS Fund, explained, “We are pleased to have in place a core team of experts managing a sizeable portfolio of renewable energy investments. We have great plans to grow the business in terms of number of projects and their geographic location and look forward to working with Ryan and his team to make this a reality.’’   

Ryan Hammond, EIMS Africa CEO, commented ‘’I’m extremely proud of the entire team for this achievement, many of whom have been involved with our earlier projects, since 2011. This milestone marks the end of a three year plan that included restructuring the management of existing and new projects, more than doubling the size of our team, while continuing to deliver better than expected results for our shareholders and social partners in the midst of the COVID pandemic. With this great foundation in place the EIMS Africa team is looking forward to an exciting few years ahead as we grow the Platform’’.