During the year under review, Hulisani incorporated a new venture focused primarily on accessing land lease cash flows from IPPs in an innovative and unique manner.
Hulisani made an investment in the Avon and Dedisa open cycle gas turbine (OCGT) plants in April 2017 through an exchangeable loan which entitles us Hulisani to 9% of the equity in Avon and Dedisa. Hulisani advanced this loan to Legend Power Solutions (the empowered shareholder in
each of the Avon and Dedisa OCGT plants. Legend Power Solutions holds a 27% equity stake in each plant.
Hulisani acquired the entire issued share capital of Red-Cap Investment and Eurocape Renewables and they in turn collectively hold a 6,67% interest in Kouga Wind Farm.
Hulisani acquired Momentous Technologies, a holding company with its asset being a 66% shareholding in the RustMo1 CPV Solar Farm.
Hulisani made an indirect acquisition of 25.5% in GRI, a producer of wind towers to the global market for R82.5 million.