The g spot
Brian Dames’ big bet on renewables
There’s a strange symmetry in the news that, just before 797MW were wiped off Eskom’s grid after a disastrous explosion at the recently completed Medupi power station, its former CEO Brian Dames, now head of African Rainbow Energy & Power (Arep), was launching a new renewable energy outfit. Fusing its assets with R5bn of Absa’s renewable energy investments, as well as a R500m cash injection from the bank, Arep is a R6.5bn business with 700MW of installed capacity that hopes to list on the JSE in the not-so-distant future. Dames spoke to the FM.
Is this a fraction of the universe of potential investable renewable assets in SA, or is this already a fairly big portion to start off with?..