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July 31, 2018

STURDEE ENERGY REIPPPP ROUND 4 FINANCIAL CLOSE OF 400MW

PRESS RELEASE

STURDEE ENERGY SUCCESSFULLY DEVELOPS 6 SOLAR PV PROJECTS (400MW) UNDER THE 4TH ROUND OF THE RENEWABLE ENERGY INDEPENDENT POWER PRODUCER PROCUREMENT PROGRAMME (REIPPPP)

[Johannesburg, 31 July 2018] – Sturdee Energy Southern Africa (Pty) Ltd. (Sturdee Energy) acted as the lead developer for the six solar PV projects, of a total of 400MW, that reached financial close on 31 July 2018 under the fourth procurement round of the South African government’s REIPPPP:

• Bokamoso 67.9MW
• Waterloo 75MW
• Droogfontien II 75MW
• Zeerust 75MW
• Greefspan II 55MW
• De Wilt 50MW

These 6 projects were acquired by African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers and a member of Old Mutual Alternative Investments (OMAI), through its IDEAS Managed Fund (see link to press release here).

About Sturdee Energy –

Sturdee Energy is an independent power producer focused on renewable energy power projects in Sub-Saharan Africa. The company’s vision is to deliver economic growth and socio-economic development to Africa through the production of reliable renewable energy.

About AIIM –

AIIM, a member of Old Mutual Alternative Investments, has been investing in the African infrastructure sector since 2000 with a track record extending across seven African infrastructure funds. AIIM currently manages USD2.1 billion in assets across the power, telecommunications and transport sectors with operations in 15 countries across East, West and Southern Africa. AIIM’s power portfolio extends across renewable energy and thermal power assets with a combined generation capacity of over 3,300MW.

As a leading infrastructure manager across Africa, central to AIIM’s investment objectives and processes is its commitment to responsible investment. AIIM is committed to fulfilling fiduciary duties as the custodian of shareholders’ and beneficiaries’ long-term interests. In this regard, the environmental, social and governance (ESG) factors are fully integrated within AIIM’s investment process to support the pursuit of creation of positive futures and obtaining sustainable, superior risk-adjusted returns for its clients.