Growthpoint Acquires Stake in Boston Hydroelectric Plant
Growthpoint Properties, South Africa's leading Real Estate Investment Trust (REIT), has acquired a 30% stake in the operational Boston Hydroelectric plant.
The Boston Hydroelectric plant is a new R390-million development with an operational lifetime of over 40 years, located within the Lesotho Highlands Water Scheme near Clarens, and is operated by leading independent power producer Serengeti Energy.
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Growthpoint's acquisition marks a significant investment in the renewable energy sector.
Author's summary: Growthpoint acquires 30% stake in hydroelectric plant.
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