South Africa: Kelvin power plant for sale

The 600MW Kelvin power plant in Johannesburg has been put up for sale by its owners, South Africa’s Nedbank Capital and Invest Bank, who took control of the facility in 2013 after the previous owning consortium – which included Aldwych International, FMO, Macquarie Group and Old Mutual Investment Group – encountered problems operating the plant that could not be resolved by an attempted debt restructuring. Expressions of interest must be submitted by 16 January with non-binding offers due by 16 February. Binding offers will be submitted by 2 April with notification of preferred bidder on 13 April and completion of the transaction by 30 May.