Reatile Renewables completes phase 2 investment in Juwi
The deal deepens Reatile’s investment and involvement in the renewable energy sector in SA
Reatile Renewables has taken up a 43% equity stake in Juwi Renewable Energies’ solar photovoltaic (PV) operations and maintenance business, concluding their second investment transaction.
In the first agreement concluded earlier this year, Reatile Renewables took up a 20% shareholding in one of Juwi’s solar photovoltaic (PV) engineering, procurement construction (EPC) companies.
Reatile chair Simphiwe Mehlomakulu says that the deal deepens the group’s investment and involvement in the renewable energy sector in SA, and makes for a very attractive service offering in the operations and maintenance (O&M) sector:
“Through the O&M transaction we intend to operate and maintain projects, not only for Juwi, but also for other players in the marketplace. Reatile has taken a significant equity stake in Juwi O&M, which, together with an existing 8% community stake, results in Juwi O&M being a 51% black-owned company.
“The new structure represents all the aspects of the social compact in SA, as well as the competitive pricing and technology advances that Juwi is already known for. We believe this will be an attractive proposition for existing and potential clients operating in the renewable space,” says Mehlomakulu.
Greg Austin, MD of Juwi, says that the deal bodes well for future growth in the renewables sector: “We are pleased that Reatile has taken up a substantial stake in our O&M subsidiary, which, during 2020, will increase its SA market share significantly.
“Operations and maintenance of renewable energy assets is a critical component of ensuring reliable delivery of clean energy and remains a powerful avenue for sustainable job creation in often remote areas. This investment and the earlier EPC deal sets the stage for a deeper relationship with Reatile in terms of its participation in our projects in SA and elsewhere on the continent,” he says.
Juwi has extensive experience with the renewable energy independent power producer procurement programme and understands the operating environment in SA
Juwi is an international leader in the development and implementation of solar PV and onshore wind projects for more than 20 years and has installed more than 4.8GW of renewables worldwide, while operating and maintaining about globally.
Juwi has extensive experience with the renewable energy independent power producer procurement programme and understands the operating environment in SA, with its specific regulatory framework, logistical challenges, environmental issues, socioeconomic development community needs and the urgent need for broad-based transformation.
“Our O&M services cover technical, commercial and remote monitoring aspects as well as the planning, controlling, supply of inspections, maintenance and repairs. Juwi SA has developed a strong O&M business unit with deep ‘back-office’ support containing specialists in the areas of PV technology, safety, health and environment, networks and SCADA, grid design and compliance, and so on,” says Austin.
“We also have technical support from Juwi colleagues with deep expert knowledge beyond the SA team, located in our head office and other international markets.
“Being one of the global leaders in designing and building solar PV projects enables us to provide best in class PV O&M plant service, as we take a project lifetime view by optimising the technical, commercial and legal (performance-related) matters for the benefit of the investors and owners,” he says.
“With this backdrop and our highly experienced and fully trained, competent staff as site managers and supervisors, we have optimised the PV plants we operate in SA to achieve an average availability of 99.78% across our portfolio.”
Visit www.juwi.co.za for more information.
This article was paid for by Juwi Renewable Energies.