Actis Agrees to Buy African Renewables Firm BioTherm
Emerging market investor Actis has agreed to buy BioTherm Energy, a South African renewable power company, from Denham Capital for an undisclosed amount, Denham said in a statement Thursday.
* Following the exit, BioTherm CEO Jasandra Nyker will join Denham as a managing director in London;
* BioTherm has over 500 megawatts of projects either operational or under development;
* The company has 285 megawatts of wind and solar projects under construction, representing more than $500m in enterprise value;
* Actis will invest in the business from its fourth energy fund, which raised $2.75b in 2017, Actis Director Lisa Pinsley said in a phone interview. Source: Bloomberg