Commission recommends approval of EMIF II’s acquisition of Mainstream Renewable Power South Africa
The Competition Commission has recommended that the Competition Tribunal approve, with conditions, the proposed acquisition by Netherlands solar power systems company EMIF II of renewable energy independent power producer Mainstream Renewable Power South Africa.
EMIF II controls various entities in South Africa that are active in the development, financing, ownership, operation and installation of distributed solar PV solutions for commercial and industrial customers, as well as rooftop solar PV solutions for retail centres, offices and factories, including solutions incorporating energy storage.
Mainstream Renewable Power is active in the South African renewable-energy sector, principally in the development, ownership, operation and management of utility-scale renewable-energy projects, including solar PV and wind projects.
It also has a renewable energy development pipeline, including opportunities involving battery energy storage systems, and supplies, or intends to supply, renewable electricity to corporate and industrial customers through power purchase agreements and other renewable energy supply arrangements.
Mainstream's solar activities are primarily located in the Free State, with projects in earlier stages of development in the Northern Cape and Western Cape.
“The commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market.
“To address public interest concerns, EMIF II will, within a set period from the implementation date, implement a historically disadvantaged persons transaction in respect of one of the South Africa subsidiaries.”
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