Eaglestone targets
up to $150 million
for Renewable Energy Fund
11 July 2013
UK-based Eaglestone Asset Management is raising a fund of $100-150 million that is close to making its first investment. The fund will be a Luxembourg SCA partnership, subject to the SICAV-SIF regulatory regime, with a worldwide investment remit. The first investment will be an Australian asset.
The firm's Deputy Chief Executive Officer Nigel Purse said the vehicle is also assessing investment opportunities in Spain, Portugal, South Africa, Poland and Sub-Saharan Africa.
“We tend to look at South Africa for clues as to where we need to go for this: said Purse.”You need countries where there is strong political support, a strong legal framework and a credible and credit-worthy off-taker like the South African government backed Eskom. I personally believe that what is going on in South Africa has enormous implications for the rest of the continent. It demonstrates to the world that South Africa can do renewable energy deals and it's caused companies to divert resources to South African opportunities, which won't be available forever. Those teams will all still be there and I reckon they will go looking for wider opportunities in Africa”. Purse also believes there is a significant opportunity for smaller solar photovoltaic installations used in tandem with traditional African forms of energy generation such as diesel…
Eaglestone to Invest
in Angola, Mozambique
Clean Energy
28 June 2013
Eaglestone NV intends to invest as much as 40 percent of a planned 100-million euro renewable energy fund in projects in Angola and Mozambique, using local knowledge to tap new markets.
While opportunities are bigger in South Africa, other nations in sub-Saharan Africa where there’s a growing appetite for renewables include the two former Portuguese colonies as well as Namibia and Botswana, Eaglestone chief executive officer Pedro Neto said in an interview in London.
“Sub-Saharan Africa is about to take off,” he said. “The growth can be huge, but the size of the projects will be different from South Africa because they don’t have the same needs.” Africa and the Middle East had the biggest regional growth in renewable energy investment last year, with spending growing 228 percent to $12 billion, according to a June 12 report by the United Nations Environment Programme and Bloomberg New Energy Finance.
Kensani Eaglestone advises on US $260 million Jasper solar project
30 May 2013
Kensani Eaglestone Capital Advisory has acted as financial advisor on the US $260 million Jasper Solar Energy Project to be located near Kimberly in South Africa which has just achieved financial close.
The 96 megawatt (MW DC) solar photovoltaic (PV) installation will be one of the largest in Africa and has attracted Google as one of its key investors in what is Google’s first investment in renewable energy in Africa.
Lesedi & Letsatsi
receive Deal of the Year Award
18 December 2012
The renowned Project Finance International magazine has awarded the Lesedi & Letsatsi transactions with the 2012 African Renewables Deal of the Year Award. Kensani Eaglestone Capital Advisory (Pty) Ltd acted as financial adviser on the two 75-megawatt (MW) solar photovoltaic (PV) projects in South Africa which achieved financial close on 13th November 2012. The Lesedi and Letsatsi projects will jointly cost approximately ZAR 5.15 billion, or USD 594 million, making this one of the largest project finance transactions ever completed in South Africa and one of the largest renewable energy projects in Africa.
Lesedi and Letsatsi
Giant Step for SA PF
28 November 2012
The financial close of the first renewable energy projects in South Africa is an event of historic significance and is truly a watershed moment for the South African project finance market. It signals a new era for private sector participation in the African energy sector. By Coenraad Krige, Managing Director, and Nuno Gil, Deputy Managing director, Kensani Eaglestone Capital Advisory.
Eaglestone to launch
six funds
19 November 2012
Nigel Purse, former global head of project finance at Espirito Santo Investment Bank, and Pedro Neto, former vice chairman of ESIB, are to launch six private equity funds through their new venture Eaglestone. Five funds are targeting the African sub-Saharan market in areas including mining and infrastructure, and one is focused on renewable energy globally, each with a target value of US$100m.
Eaglestone Asset Management receives regulatory approval in Luxembourg for the Eaglestone Africa Real Estate Fund
16 November, 2012
Eaglestone Asset Management is delighted to announce that it has received approval from la Commission de Surveillance du Secteur Financier for the Eaglestone Africa Real Estate Fund.
Eaglestone is launching six private equity funds of which the Eaglestone Africa Real Estate Fund is the first. Four of the other funds will be targeted on the following sectors in Africa: infrastructure, mining, agribusiness and general industry. The final fund will be a global renewables fund.
Consortium of SolarReserve, Kensani and Intikon Completes $586 Million Financing for Two South African Solar Projects
13 November 2012
The consortium consisting of SolarReserve a U.S. developer of utility-scale solar power projects; the Kensani Group, an experienced empowerment investment and financial advisory player in South Africa; and Intikon Energy, a South African developer of renewable energy projects, has successfully closed financing for two 75-megawatt (MWDC) solar photovoltaic (PV) projects.
Kensani Eaglestone Capital Advisory advises on Two South African PV Projects totaling 5.15 Billion Rand (594 million USD)
13 November 2012
JOHANNESBURG, South Africa, 13th November, 2012 – Kensani Eaglestone Capital Advisory (Pty) Ltd (“KECA”) acted as financial adviser on two 75-megawatt (MW) solar photovoltaic (PV) projects in South Africa which achieved financial close on 13th November. The Letsatsi Project (Letsatsi Power Company) is in the Free State and the Lesedi Project (Lesedi Power Company) is in the Northern Cape.
FSA Approval
for Eaglestone
Advisory Limited
8 October 2012
Eaglestone Advisory Limited is delighted to announce that it has received approval from the Financial Services Authority (“FSA”). A list of its approvals may be found on the FSA website at www.fsa.gov.uk.
SolarReserve, Kensani and Intikon Energy consortium
is awarded further 88MW
by South African DoE
20 May 2012
The South African Department of Energy (DoE) has awarded a further 88MW of PV projects to the consortium consisting of SolarReserve, the Kensani Group and Intikon Energy. After the two 75MW projects Letsatsi and Lesedi Power Project, the Jasper solar energy project in Northern Cape is the third project the consortium has been awarded preferred bidder status. This brings the total of the projects to 238MW.