South Africa’s Competition Commission has recommended that the Competition Tribunal approve the proposed acquisition of Mainstream Renewable Power South Africa by Netherlands-based solar power systems company EMIF II. The recommendation is subject to specific public interest conditions aimed at supporting economic transformation in South Africa.
EMIF II operates in South Africa across the distributed solar energy market. The company develops, finances, owns, operates, and installs solar photovoltaic (PV) systems for commercial and industrial customers. Its activities also include rooftop solar PV installations for retail centers, offices, and factories.
Mainstream Renewable Power South Africa is active in the development and operation of large-scale renewable energy projects. Its portfolio mainly covers utility-scale wind and solar PV facilities. The company is also developing projects in battery energy storage and provides renewable electricity to corporate and industrial customers through power purchase agreements.
Mainstream’s current solar activities are concentrated largely in the Free State province, while it has early-stage renewable energy projects in the Northern Cape and Western Cape.
The Competition Commission conducted a detailed assessment of the proposed transaction and concluded that the acquisition is unlikely to substantially reduce or prevent competition in any relevant market. According to the Commission, the areas where EMIF II and Mainstream operate do not create significant competitive concerns in South Africa’s energy sector.
Despite the finding on competition, the Commission identified public interest considerations that require specific commitments. As part of the agreed conditions, EMIF II will establish a dedicated transaction involving Historically Disadvantaged Persons (HDPs) through one of its South African subsidiaries.
The HDP transaction must be implemented within a specified period after the acquisition reaches its final implementation date. The condition is intended to contribute to economic transformation and broader participation in the renewable energy sector.
The Competition Commission’s recommendation represents an important regulatory step toward completing the acquisition. However, the transaction has not yet received final approval.
The matter will now proceed to the Competition Tribunal, which will make the final formal decision on whether the acquisition can be completed subject to the proposed conditions.
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