Soitec receives final approval to change Touwsrivier solar project financing structure

The approval allows the South African Government Employee Pension Fund (GEPF) to come on board as a strong long term investor in the project, developed in Touwsrivier.

Soitec and Public Investment Corporation (PIC), which represents Government Employee Pension Fund (GEPF), have joined forces through an equity financing structure.

Soitec will retain a minority shareholding only in the long term while GEPF will a 40% stake in the project.

Additionally, Soitec, through its contribution of solar equipment and minority shareholding, will remain the only foreign stakeholder in the project.

PIC Chief investment Officer Dr Daniel Matjila said, "This investment will contribute to the country’s much needed alternative energy needs thus contributing towards easing the current electricity pressures the country is experiencing as well ensure good returns for our client, the GEPF".

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