Based in South Africa, AEP Energy Africa has a primary goal of owning and operating clean energy facilities throughout the African continent. It aims to do this through the purchase of power plants, management and operation of strategic energy facilities such as gas terminals and investment in a portfolio of assets in the African clean energy and infrastructure sector.
The company was formed in 2017, with AEP Energy Africa shares listing on the AltX of the Johannesburg Stock Exchange (JSE) under a Special Purpose Acquisition Fund (SPAC) in June. The company’s black empowerment status and strong acquisition model should make this one of the best JSE shares to buy within the SPAC sector today.
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As a newly listed SPAC, the group has not yet made any acquisitions, but the company’s executives have said that they have identified several cash-generating opportunities to enter into by the middle of 2018, capitalising on the growth within the African clean energy market.
The group aims to target liquid natural gas assets in particular, which can be used with existing power systems to deliver cost savings and clean efficiency, as well as to complement renewables such as wind and power. The investment in LNG is also based on the fact that the resource is abundant, replenishing and can be easily harnessed and transported using existing fuel infrastructure.
Most of AEP Africa Energy’s acquisition targets are either already cash-generating or within 12 months of being so. This should drive good growth in AEP Energy Africa share price.
An amount of R52 million was raised through the initial listing, with the Public Investment Corporation (PIC) purchasing 49% of the shareholding. The PIC has also committed to participating in a further capital raise of R200 million, illustrating its confidence in the new company and further indicating that this is a good choice for investors buying shares on the JSE.
Afenergy Investor Tip
Available at low cost, AEP Energy Africa shares offer an attractive entry point for investors looking to purchase JSE shares within the energy sector. Understandably, the share price has yet to show any gains on the live online stocks chart. Once meaningful acquisitions are made, the company should exhibit good growth and start delivering returns for investors. Judging by the willingness of big investors to invest in the company, AEP Energy Africa has certainly taken its place amongst the best JSE shares to buy in 2017, with investment analysts producing a forecast for good growth.
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