JSE-listed Hulisani, an investment holding company focused on energy opportunities, announced on Thursday that it would acquire Momentous Technology for R122m. Momentous is a holding company, with its only asset being its shareholding in RustMo1, an operational 7MW solar photovoltaic (PV) plant. This is Hulisani’s second acquisition this year and gives the business an indirect controlling shareholding in RustMo1, established in November 2013, and the first independent power producer to be connected to the grid. Hulisani’s chief investment officer Marubini Raphulu said the RustMo1 acquisition was an important step in the company’s long-term strategy. "Hulisani’s strategy is to acquire and invest in a diverse basket of energy-producing assets with potential for growth. Following the acquisition of Kouga Wind Farm earlier in 2017, the RustMo1 solar PV farm "not only expands our energy investments into solar, but also marks our first investment in an operational power producer", the com...
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