A deal to acquire a majority stake in wind and solar assets is set to give Seriti Resources, one of Eskom's largest coal suppliers, a "running start" in South Africa's booming renewable energy industry.
The R892 million deal to acquire Windlab Africa, as announced on Monday, will instantly establish Seriti Green as a major black-owned independent power producer (IPP) with a 3 500MW pipeline of green power projects, most of which are in South Africa.
The transaction is expected to close in the first three months of next year, subject to obtaining competition and other approvals.