On the first day of listing and trading on the SEM, 3% of the issued shares of the energy company, were made available for trading at a price of USD 1.00 per share.
Africa Clean Energy Solutions (ACES), through its associate and subsidiary companies, is an independent renewable power producer operating in Africa.
ACES focus is on the proven technologies of solar, biomass and biogas in selected African countries where, working with local partners, the company takes a project from inception through to grid-connection.
The company specialises in projects that will generate between 3 MW and 50 MW of power, with stable long-term off-take agreements and in politically stable jurisdictions across Africa.
Over the long term, the company aims to own and operate a combined generating capacity of 500 MW by 2023.
The listing on the SEM sets up a transparent capital raising platform that will allow the company to engage a new international investor base and bring financial close to its key projects.
The group has renewable energy projects under development and over the next twelve months three will progress to construction; with the first commercially generating in 2020 and the remainder by 2021.
Mauritius provides the company with a strong and trusted regulatory framework, a recognised jurisdiction for African investments and will help to diversify the company’s shareholder base.
The ACES Group has strategically positioned itself to capitalize on long term growth trends that present new sources of demand for renewable energy and clean energy solutions by establishing a strong project pipeline for the next five years.
Its objective is to become one of the major utility investment and management companies in clean energy projects within the next 5 years
Its focus is on biomass, biogas and solar power generation across the African Continent. Through our subsidiary companies, it has established solar photovoltaic, biomass and biogas waste-to-energy technologies.