Investec’s R1bn fund to buy up stakes in SA green power projects
The investment vehicle, set up with UK Climate Investments, wants equity in operating renewable energy projects
Investec Bank and UK Climate Investments have set up a R1bn investment vehicle to buy assets under SA’s green power programme. The vehicle, Revego Africa Energy Limited, is expected to list on the JSE by June 2019 where it hopes to raise another R1bn to invest in operating renewable energy projects. Also newly incorporated is the majority black-owned Revego Fund Managers, which will manage Revego’s investments. According to Mike Meeser, chief investment officer for the fund, Revego will seek out opportunities across sub-Saharan Africa, but will be particularly focused on SA where more than 100 green power projects have been procured under the government’s lauded Renewable Energy Independent Power Producers Procurement programme. Public enterprises minister Pravin Gordhan may have thrown a spanner in the works last week when he said the government would look to renegotiate the contracts with the winning bidders of round one and two of the renewables programme in order to take pressur...
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