ANUVA Impact Fund
A yield-focused development funding vehicle.
Why AIF exists
The ANUVA Impact Fund (AIF) funds the development of sub 1 MW solar PV and backup-power projects. These projects are then sold to ANUVA Green Partnerships (AGPs) once they are fully developed and operating.
How it works
Investor capital is used to fund the development of a pipeline of solar projects through out a year to completion and operation. Sale proceeds are then recycled into a new pipeline of projects the following year.
Returns and distributions
AIF investors receive a 10% annual dividend, paid quarterly, together with an annual distribution of 80% of ordinary dividends. The annual distribution is dependent on the realised development profits from the projects sold at year end.
ANUVA targets an annual yield of between 15.0% to 18.0%.
At a glance
- Vehicle type
- Private company
- Instrument
- Ordinary Shares
- Investment objective
- Consistent yield (no s12B deduction)
- Investment horizon
- 3 years
- Minimum investment
- R1.0 million
- Maximum investment
- Subject to deal pipeline
- Drawdown
- 10 days' notice
- Liquidity
- 180 days' notice, subject to solvency and liquidity
- ANUVA management fee
- 2% of AUM
- ANUVA's carry
- 20% of realised development profits
How it fits together
AIF develops. AGPs own.
AIF develops
ANUVA's business development team source, analyse and secure Solar PV and Backup projects that meet the requirements of ANUVA Green Partnerships (AGPs). AIF then funds their development.
Sale at tax year-end
AIF sells projects to AGPs, seeking exposure to Section 12B compliant assets, close to the tax year-end (February).
AGP holds long-term
The AGP becomes the long-term owner, funded partly by an AIF vendor loan that is refinanced by senior debt once cash flows have stabilised.
Interested? Get in touch with an Investment Consultant: