AEP Energy Africa acquires Iberafrica for Sh6.22bn

By professo

The South African clean energy firm, AEP Energy Africa, has announced its acquisition of Iberafrica, the independent power producer based in Nairobi.

The firm has been responsible for supplying electricity to Kenya Power for transmission to the national grid since the 1990s.

The company operates 103.57MW of thermal plant capacity, all of which are powered by diesel.

“The board of directors of AEP is pleased to advise shareholders that AEP has entered into an agreement to acquire 100 per cent of the issued share capital of IberAfrica Power (East Africa) Limited, together with all shareholders’ claims against IberAfrica, for a maximum aggregate purchase consideration of US$61,569,066,” stated AEP Energy Africa.


“AEP’s vision is to significantly increase access to, and use of, a variety of clean energy products by African countries, their industries and their citizens,” it continued.

The acquisition of the issued share capital includes all shareholder claims, AEP East Africa confirmed.

The Johannesburg Stock Exchange-listed firm advised investors that exercise of caution on the counter was no longer necessary.

The company was established in 2017 with the purpose of acquiring energy companies across the continent.


Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy