Decentral Energy, an independent power producer, has sold 23 of its solar assets to Anuva Green Energy, an investment dedicated to providing a unique opportunity to leverage the power of tax-based investing for its Anuva’s clients
Decentral has developed and operates more than 20MW of solar photovoltaic assets in South Africa and has 300MW of active development assets nationwide.
The portfolio purchased by Anuva, equivalent to 11MW, comprises various grid-tied solar assets in retail shopping centres, residential estates, and C&I properties, based on PPAs under which customers are contracted to purchase electricity generated by the solar plant on a monthly basis for terms of up to 20 years.
Decentral executive director, Luel Culwick, commented, “This transaction has proven Decentral’s development capabilities, and the attractiveness of relatively small assets bundled into an aggregated package. Moreover, it confirms that privately owned, decentralised energy installations are becoming an established asset class.”
Zane De Decker, CEO of Anuva Green Energy, added, “The acquisition of the Decentral portfolio aligns with our strategy to diversify our assets under management into high quality, well-managed solar assets with strong off-takers. Not only is investment in the sector a necessity for our collective energy security, this also under-scores our goal of providing our investors with innovative tax-leveraged investment opportunities.”
According to Decentral, the liquidity generated by the sale will be reinvested in new assets across diverse renewable energy technologies. This will allow the company to pursue a growth strategy that will see the company increase the scale of its renewable energy generation capacity to 45–50MW across 30–40 C&I offtakers, with an increased focus on energy security and storage solutions in response to the current energy crisis.
The transaction was made possible with technical advisory services provided by investment bank and asset manager, Lion’s Head Global Partners, thanks to support from the US Agency for International Development through the INVEST initiative.
