Westbrooke acquires solar portfolio powering 91 Shell stations across South Africa
Westbrooke Renewable Energy Alternatives has acquired a significant portfolio of solar and battery storage assets located at 91 Shell service stations across South Africa, in a deal that expands its footprint in the country’s commercial renewable energy sector.
The portfolio, which produces approximately 7.8 GWh of renewable power annually, was purchased from Thebe Solar Energy, which exited the investment as part of a strategic realignment.
Westbrooke, an alternative asset manager, completed the acquisition alongside its long-term partner, independent power producer CVE South Africa. This deal marks the fourth renewable energy portfolio the two firms have jointly acquired, bringing their shared ownership to over 12MW of solar projects.
“The transaction demonstrates our ability to source and execute attractive investment opportunities in operational renewable energy assets, supporting our goal of building a robust and resilient portfolio for our investors,” said Nox Mlalazi, a transactor at Westbrooke Real.
Under the new ownership, the 91 sites will be managed by CVE, which will leverage its operational expertise to ensure a reliable supply of clean energy.
René Laks, Country Manager at CVE South Africa, added, “We are pleased to continue our partnership with Westbrooke and to support the ongoing operation of these assets, contributing to the reliable supply of clean energy across South Africa.”
Go to ECONEWS.co.ke for more sustainability news from the African continent.
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