SolarAfrica has completed a ZAR 635 million ($39 million) mezzanine-backed secondary transaction to acquire full ownership of Commercial Energy South Africa (CESA), according to company information.
The deal gives SolarAfrica control of 90MW in commercial and industrial solar and battery assets across 134 sites, according to the announcement.
Impact investor Inspired Evolution exited through the transaction. Financing was arranged by Vantage Capital alongside Greenpoint Capital.
SolarAfrica, founded in 2011, develops solar PV, battery storage, wheeling, and energy trading solutions.
The company operates the 114MW SunCentral 2 plant in the Northern Cape, according to company information
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