To profit with purpose

The overarching mission is to profit with purpose by providing a specialised and experienced financing platform that will structure select investments to accelerate clean and sustainable energy infrastructure, energy and resource efficiency solutions (and related business models and services), and the supply chains that support them, which provide measured positive development outcomes for sub-Saharan Africa’s future.

Fifth Season Investments

Fifth Season Investments 134 (RF) is a ring-fenced special purpose vehicle that owns a minority equity interest on behalf of black economic empowerment shareholders (BEE SPV) in a 75MW Solar PV project under construction in De Aar, Northern Cape, South Africa. The project, known as Solar Capital De Aar 1 (Pty) Ltd, was successfully bid under Round 1 of the Department of Energy’s Renewabel Energy IPP Procurement Programme in South Africa.

Moncada Energy Group is the engineering, procurement and construction contractor for the project, as well as the operations and maintenance contractor. The project is scheduled to reach commercial operations date at the end of February 2014. The Project is a significant employer from the local De Aar community, both during construction and operation.

Evolution One Fund has funded the BEE SPV’s equity commitment in the project.

Fund Principals

Mr Steven Faure

Fund:

Evolution I

Enterprise Value:

ZAR2.2 billion (total project capex)

Investment Amount:

ZAR39.788 million

Date of Deal Annoucement:

2010

Investment Year:

2013

Investment Partner:

Solar Capital

Fund Principals

Mr Steven Faure

Fund:

Evolution I

Enterprise Value:

ZAR2.2 billion (total project capex)

Investment Amount:

ZAR39.788 million

Date of Deal Annoucement:

2010

Investment Year:

2013

Investment Partner:

Solar Capital

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