Revego Africa Energy Grows Renewable Portfolio Through Acquisition of Solar PV Assets

By Oliver Townsend Jul 10, 2024
Revego Africa Energy Expands Renewable Portfolio With Acquisition Of Three Solar PV Assets.pngOrginal image from:

Revego Africa Energy Limited (Revego) recently announced the expansion of its renewable energy portfolio through the acquisition of equity interests in three Solar PV assets. These assets, which include the Aries Solar Park and Konkoonsies Solar Park in Northern Cape, as well as the Soutpan Solar Park in Limpopo, were developed under Bid Window 1 of South Africa’s Renewable Energy Independent Power Producers Procurement Programme (REIPPPP). Operational since 2014, these solar plants collectively generate 105,000 MWh of electricity annually, enough to power 23,000 homes and prevent over 29,000 tons of CO2 emissions each year. In addition to contributing to South Africa’s clean energy transition, Revego is committed to supporting local communities through various initiatives such as education, agriculture, and skills programs.

Commitment to Sustainable Investment

Ziyaad Sarang, Chief Investment Officer of Revego Fund Managers, highlighted the company’s dedication to sustainable investment practices. By focusing on renewable energy projects and promoting a just energy transition, Revego aims to lead in the renewable energy sector while aligning with Sustainable Development Goals (SDGs) 7, 8, and 9. The recent acquisitions are expected to further reinforce Revego’s position as a key player in the renewable energy landscape.

Follow-On Commitment from UK Climate Investments LLP

The acquisition of the solar assets was made possible through a follow-on commitment from UK Climate Investments LLP (UKCI), amounting to £15m. This investment underscores UKCI’s support for transformative green energy projects in emerging economies with high carbon footprints. By partnering with organizations like Revego, UKCI aims to drive sustainable development and combat climate change through strategic investments in the renewable energy sector.

Expanding Footprint in Renewable Energy

Revego’s continued expansion in the renewable energy sector across Africa reflects the company’s commitment to leveraging its diverse portfolio to promote sustainable development. By acquiring solar assets and investing in clean energy projects, Revego is actively contributing to the global shift towards a more sustainable and environmentally friendly energy landscape. The company’s dedication to renewable energy initiatives and sustainable investment practices positions it as a key player in driving positive change in the energy sector.

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