Revego Africa Energy Limited (Revego), Africa’s pioneer YieldCo focusing on renewable energy projects in sub-Saharan Africa, has bolstered its portfolio with the acquisition of equity interests in three Solar PV assets. These assets include the Aries Solar Park and Konkoonsies Solar Park in Northern Cape, and the Soutpan Solar Park in Limpopo. All three assets were developed under Bid Window 1 of South Africa’s Renewable Energy Independent Power Producers Procurement Programme (REIPPPP).
Each of the acquired solar plants, operational since 2014, contributes to South Africa’s clean energy transition by collectively generating 105,000 MWh of electricity annually. This capacity is sufficient to power 23,000 homes and avoids over 29,000 tons of CO2 emissions yearly. Moreover, local communities benefit from Revego’s commitment to Enterprise and Socio-Economic Development, supporting education, agriculture, and skills programs, alongside direct community ownership through Community Trusts.
Ziyaad Sarang, Chief Investment Officer of Revego Fund Managers, emphasized Revego’s commitment to sustainable investment, aiming to lead in renewable energy while promoting a just energy transition. The acquisitions align with Sustainable Development Goals (SDGs) 7, 8, and 9 by providing clean energy, fostering economic growth, and building resilient infrastructure.
The acquisition is facilitated by a follow-on commitment from UK Climate Investments LLP (UKCI) into Revego, amounting to £15m. This funding underscores UKCI’s support for transformational green energy investments in emerging economies with high carbon footprints.
Revego continues to expand its footprint in renewable energy across Africa, leveraging its diversified portfolio to drive sustainable development and combat climate change.