Kelvin Holdings (Pty) Ltd was one of the earliest independent power producers in South Africa, and was established to own and operate the Kelvin Power Station in Kempton Park, Johannesburg. The power station consists of two co-located plants - the 180MW1 A Station, and the 420MW1 B Station. Kelvin A and B were commissioned in 1956 and 1970 respectively. The privatisation of Kelvin in 2001 included a 20-year Power Purchase Agreement with the City of Johannesburg’s utility, City Power (Pty) Ltd.

AIIF, IDEAS and IEF’s equity interest in Kelvin was acquired in 2007 and disposed of in 2012.