The Competition Commission has approved the agreement for Gaia SA to acquire two solar energy companies, Kalkbult and Linde, with no conditions attached.

Following its review of the merger, the competition authority concluded that it would not considerably impede competition within the solar energy market. Furthermore, there are no public interest concerns, such as potential job losses, environmental effects, or repercussions for local communities.

Read:
Eskom solicits bids for renewable energy unit
A five-year initiative for solar energy

Gaia SA is part of a larger investment group – Gaia Renewables, which is listed on the Cape Town Stock Exchange and focuses on infrastructure and agricultural investments, including solar energy.

In connection with the deal, Gaia Renewables manages an independent power producer (IPP) that generates and distributes solar photovoltaic renewable energy.

The primary target firms are independent power producers (IPPs) engaged in the generation and supply of solar photovoltaic renewable energy.

Both Kalkbult and Linde are IPPs, each operating a renewable solar PV farm situated in the Northern Cape.

Listen:Approval granted for renewable energy masterplan

Kalkbult is jointly owned by several entities, including Scatec Solar, Navitas KLD, IDEAS, Stanlib Infrastructure, and a community trust.

Linde is similarly co-owned by Scatec Solar (through two of its local subsidiaries), Navitas KLD, IDEAS, and Stanlib Infrastructure. Neither Kalkbult nor Linde owns or controls any other companies.

Stay informed with Moneyweb’s complete finance and business updates on WhatsApp here.