South African Real Estate Investment Trust REIT, Growthpoint Properties JSE: GRT , has acquired a 30 stake in the operational Boston Hydroelectric plant, a new R390 million development with an operational lifetime of over 40 years, by independent power producer Serengeti Energy within the Lesotho Highlands Water Scheme near Clarens. South Africas newest hydroelectric plant was certified for commercial operations by Eskom on Friday 17 October 2025 and has already started adding renewable energy to the national grid.
As early as 2023, Growthpoint secured exclusive access to approximately 30GWh of renewable electricity generated by the plant annually, through its landmark 195GWh power purchase agreement PPA with licensed energy trader Etana Energy. Boston Hydro is the first project to come online in a mix of cost-saving, certified zero-carbon hydro, wind and solar electricity generation projects powering the PPA. The renewable electricity from Boston Hydro has been matched with 23 Growthpoint buildings, including 10 in Sandton Central and three in Cape Town.
Growthpoints 30 stake in Boston Hydro continues its investment in renewable electricity sources and furthers its green energy transition, which began more than a decade ago. The property group took its first steps into rooftop solar generation in 2011.