AIIM in Talks to Sell Renewables Stake to BlackRock

Jun 19, 2024 12:16 PM ET
  • AIIM seeks investors like BlackRock to expand its renewable energy business in Africa, offering a lucrative opportunity in a growing industry.
AIIM in Talks to Sell Renewables Stake to BlackRock

African Infrastructure Investment Managers Ltd. (AIIM) is in talks with BlackRock Inc. and other companies to sell a stake in one of Africa's largest renewable energy businesses. AIIM, which manages $2.8 billion in assets across the continent, has grown its renewable energy business to a significant size and is seeking investors to further expand. The fund has stakes in projects generating over 2,800 megawatts of power, making it an attractive opportunity for major investors like BlackRock.

The renewable energy industry in Africa has been seeing a rise in deals, with companies like Africa Finance Corp. and Copenhagen Infrastructure Partners making significant acquisitions. BlackRock's entry into Africa's renewable energy sector last year with a stake in Kenya's Turkana Wind Power highlights the growing interest in the industry. Norfund, another potential investor in AIIM's renewable energy business, manages a $2.3 billion investment facility for developing nations.

Is BlackRock's interest in AIIM's renewable energy business a sign of industry growth in Africa?

  • BlackRock's interest in AIIM's renewable energy business is a positive sign of industry growth in Africa, as it indicates major investors are recognizing the potential and opportunities in the region.
  • The rise in deals in the renewable energy sector in Africa, with companies like Africa Finance Corp. and Copenhagen Infrastructure Partners making significant acquisitions, further supports the notion of industry growth.
  • BlackRock's entry into Africa's renewable energy sector last year with a stake in Kenya's Turkana Wind Power demonstrates the increasing interest from global investors in the continent's renewable energy projects.
  • Norfund's potential investment in AIIM's renewable energy business, with its $2.3 billion investment facility for developing nations, also reflects the growing confidence in Africa's renewable energy market.
  • AIIM's significant size and portfolio of projects generating over 2,800 megawatts of power make it an attractive opportunity for investors looking to expand their presence in the African renewable energy sector.
Source:
bloomberg.com

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