Sunday, July 21, 2019 UTC
Recognized by industry leaders for extensive coverage on African Asset Management

AGF 2019 Events - October 24th, Radisson Blu Hotel, Johannesburg

AGF Forum: PE Fund Operations

The 2019 AGF Forum will assemble cutting-edge thinkers, management of leading Private Equity Firms (CFOs, COOs, CTOs), and Asset Managers to discuss the major developments that affect private investment fund operations.

8AM - 5PM

More Info

AGF Service Providers Awards

The 4th edition of the prestigious Awards has opened for entries in the build up to the Awards night in Johannesburg, South Africa. Deadline for submissions: September 1st; judging period is from July 2018 to June 2019.

7PM - 11PM

Submissions Open
News > Private Equity > Deals

responsAbility invests in REH

Africa Global Funds
July 11, 2019, 12:06 a.m.
331

Word count: 328

A responsAbility-managed energy holding company has acquired a 26% interest in Renewable Energy Holdings (REH), a South African based developer, owner and operator of run-of-river hydropower projects in Southern Africa.

Receive ONE magazine and TWO locked articles of your choice for FREE when you register an account
Share:

A responsAbility-managed energy holding company has acquired a 26% interest in Renewable Energy Holdings (REH), a South African based developer, owner and operator of run-of-river hydropower projects in Southern Africa.

Joseph Nganga, Co-Head of Energy Equity Investments at responsAbility, said: “We are pleased to team up with this well-established partner in the field of renewable energy generation in Sub-Saharan Africa."

"This cooperation will allow us to scale up our hydropower development activities at a higher pace, delivering attractive returns to our investors while at the same time ensuring that we add much needed energy capacity on the continent and contribute to the United Nations’ Sustainable Development Goals, particularly in the area of climate action and creating essential infrastructure.”

REH has been a pioneer in the South African independent power producer (IPP) sector and has a 12-year track record of hydro IPP development, investment and operations.

The company is the majority owner and operator of the 3 MW Sol Plaatje, the 4 MW Merino and the 4 MW Stortemelk hydropower plants, all in South Africa.

In addition to its operating assets in South Africa, REH is also developing a 5-project, 70 MW portfolio of run-of-river hydropower plants in Zambia under contract with New Africa Power (Mauritius).

“REH has established itself in Southern Africa as a hydropower focussed IPP and is actively expanding its development activities across the region. The investment by responsAbility in REH follows on a clear strategic fit between the two companies,” commented Anton-Louis Olivier, MD of REH.

“There is huge potential for the development of sustainable hydropower projects in Sub- Sahara Africa. The growing market share of intermittent renewables such as solar PV combined with relatively weak transmission networks in many countries in the region increases the need for a predictable and sustainable source of generation like hydropower in the generation mix,” he added.

“The partnership with responsAbility provides us with a capital strong partner, who shares our focus on the responsible development of sustainable hydropower.”

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration