Stanlib Infrastructure Fund II buys 60% stake in Upington Solar
Separate equity stakes acquired from Norwegian company and Norway’s developing country financier
Stanlib Infrastructure Fund II, which invests in renewable energy, digital infrastructure, transportation infrastructure and logistics, has agreed to acquire a majority stake in Upington Solar Power.
The Standard Bank-owned asset manager’s second infrastructure fund will take a 60% holding in the 258MW solar complex by purchasing separate equity stakes from two Norwegian investors. The deal involves Oslo-headquartered renewable power producer Scatec selling its 42% stake to the Stanlib Infrastructure Fund II while Norfund, the Norwegian development finance institution that invests in developing countries, will sell an 18% stake in the project...
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