InfraCo Africa Ltd, a member of the Private Infrastructure Development Group, has agreed to sell its 25% stake in Golomoti JCM Solar Corporation Ltd to Old Mutual Infrastructure Investment Trust Fund (Malawi), part of Old Mutual Investment Group's Alternative Investments division. The transaction involves the transfer of ordinary shares in the Malawian solar energy project, which InfraCo Africa co-developed with Canadian clean energy producer JCM Power in 2018. InfraCo Africa initially invested $2.3 million in the Golomoti Solar project a move aimed at supporting renewable energy infrastructure in Malawi.
This deal aligns with Old Mutual Malawi's growth equity strategy, enabling it to expand its footprint in the renewable energy sector. The acquisition of a 25% equity stake in Golomoti JCM Solar underscores Old Mutual's commitment to sustainable infrastructure investments. For InfraCo Africa, the divestment represents a strategic exit, allowing it to recycle capital into other infrastructure projects across Africa while ensuring the continued development of clean energy solutions in the region.
