Westbrooke acquires solar portfolio across 91 Shell service stations in South Africa
- Westbrooke Renewable Energy Alternatives, an alternative investment strategy managed by Westbrooke Alternative Asset Managementhas acquired a portfolio of operational solar photovoltaic (PV) and battery energy storage system (BESS) assets located at 91Shell Downstream South Africa (SDSAs) owned service stations across South Africa.
- The portfolio was purchased alongside one of Westbrooke Real’s partners, CVE South Africa, an experienced independent power producer.
- The assets were acquired from Thebe Solar Energy, which exited its position as part of a strategic realignment.
The portfolio is fully operational and produces approximately 7.8 GWh of renewable power annually. The acquisition forms part of Westbrooke Real’s strategy to invest in South African behind-the-meter solar projects with experienced operators such as CVE.
Westbrooke Real’s partnership with CVE has seen the joint acquisition and development of four renewable energy portfolios. Westbrooke and CVE jointly own over 12MW of solar projects, reflecting a shared commitment to the investment in high quality renewable energy assets.
This transaction demonstrates Westbrooke Real’s ability to structure and execute complex deals in the South African renewable energy sector. The strategy offers investors access to renewable energy assets and is well-positioned to support additional investments alongside industry-leading partners, with capital readily available.
Under the new ownership, the 91 SDSA sites will benefit from the ongoing support of Westbrooke Real as a stable, long-term investor, ensuring continued value for these assets. Backed by CVE’s proven operational expertise, the sites are set to maintain high-quality management and a reliable supply of renewable energy.
Author: Bryan Groenendaal
