News


Consortium acquires a 95% interest in Kelvin Power

19 September 2007 News

A consortium led by infrastructure funds managed by the Macquarie Group, Old Mutual Investment Group and Kagiso Trust Investments has announced that the consortium has completed the acquisition of a 95% interest in Kelvin Power, the 600 MW coal-fired power station in Johannesburg.

A consortium led by infrastructure funds managed by the Macquarie Group, Old Mutual Investment Group and Kagiso Trust Investments has announced that the consortium has completed the acquisition of a 95% interest in Kelvin Power, the 600 MW coal-fired power station in Johannesburg.

The consortium, which also includes Aldwych Kelvin Holdings, a subsidiary of Aldwych International, the Netherlands Development Finance Company (FMO) and J&J Infrastructure Holdings, brings significant investment and operating experience to Kelvin and, by supplementing the incumbent shareholder Global African Power, increases the empowerment shareholding in Kelvin to over 20%. An Aldwych subsidiary will operate the plant under a long-term operations and maintenance agreement.

Kelvin Power had been indirectly managed by Investec Bank and Nedbank, the senior lenders to Kelvin, since early 2006 and both banks will remain senior lenders to the business after this new transaction. Financial details of the transaction have not been disclosed.

Commenting on the acquisition, Kelvin's new general manager Steve Meyer remarked: "We believe that Kelvin can play an important role in improving security of supply for Johannesburg, especially in light of the current state of the country's generation issues."





Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

Coalition calls on European Commission to postpone SCIP deadline
30 September 2020 , News
A coalition of 40 industry organisations has written a letter to European Commission President Ursula von der Leyen calling for decisive action to solve implementation issues within the EU Waste Framework ...

Read more...
Follow this engineering journey of a 3D-printed boat
30 September 2020, RS Components (SA) , News
RS Components is releasing a 10-episode documentary series – titled SeaQuest – featuring members of its DesignSpark engineering community who embarked on a first-of-its-kind challenge to design, test ...

Read more...
Mouser revamps technical resource centre
30 September 2020, TRX Electronics , News
Mouser Electronics has redesigned its Technical Resource Centre, which contains the global distributor’s ever-expanding collection of technical articles, blogs, eBooks, and Methods technology and solutions ...

Read more...
IPC teams up with PSMA on standards and more
30 September 2020 , News
IPC and the Power Sources Manufacturers Association (PSMA) have signed a memorandum of understanding (MoU) pledging to build a strong complementary relationship between the two entities with a focus on ...

Read more...
Battery Technologies Conference goes virtual
30 September 2020 , News
Vukani Communications is back again with the 6th edition of the Battery Technologies Conference, and this time around the gathering is virtual. Topics to be discussed include, but are not limited to: ...

Read more...
A journey into the automation unknown
31 August 2020 , News
From small-town specialised machine builder to global technology company, Jendamark Automation’s business journey has been characterised by calculated leaps into the unknown. And, as South African manufacturers ...

Read more...
Resources for home and building automation
31 August 2020, TRX Electronics , News
Mouser Electronics is expanding its comprehensive range of building automation solutions from Silicon Labs, TE Connectivity (TE), and Littelfuse for the rapidly growing smart home and building automation ...

Read more...
From the editor's desk: Enough of 2020 already
31 August 2020, Technews Publishing , News
Forgive me, but I don’t think I’m alone in being a bit all over the place mentally at the moment. So far, two of my colleagues have been diagnosed positive for COVID-19 and have fortunately recovered. ...

Read more...
Tribute to Paul Soteriou
31 August 2020 , News
Paul Soteriou, a man always willing to share what he had with a smile and with a deep-found love for South Africa, passed away earlier this year.

Read more...
Personality profile: Brian Andrew
31 August 2020, RS Components (SA) , News
With a father who is a civil engineer and an older brother who is a chemical engineer, you could say engineering was in the DNA of Brian Andrew.

Read more...