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responsAbility acquires 26% interest in Renewable Energy Holdings

  • responsAbility acquires 26% interest in Renewable Energy Holdings
    Gordon Dam, South Africa. Credit: Wikipedia

About the entity

responsAbility
responsAbility Investments AG is an asset manager in the field of development investments and offers professionally-managed investment solutions to private, institutional and public investors.

A responsAbility-managed energy holding company has acquired a 26% interest in Renewable Energy Holdings (Pty) Ltd (REH), a leading South African based developer, owner and operator of run-of-river hydropower projects in Southern Africa.

REH has been a pioneer in the South African independent power producer (IPP) sector and has a 12-year track record of hydro IPP development, investment and operations. The company is the majority owner and operator of the 3 MW Sol Plaatje, the 4 MW Merino and the 4 MW Stortemelk hydropower plants, all in South Africa. In addition to its operating assets in South Africa, REH is also developing a 5-project, 70 MW portfolio of run-of-river hydropower plants in Zambia under contract with New Africa Power (Mauritius).

“REH has established itself in Southern Africa as a hydropower focussed IPP and is actively expanding its development activities across the region. The investment by responsAbility in REH follows on a clear strategic fit between the two companies,” commented Anton-Louis Olivier, MD of REH.

“There is huge potential for the development of sustainable hydropower projects in Sub- Sahara Africa. The growing market share of intermittent renewables such as solar PV combined with relatively weak transmission networks in many countries in the region increases the need for a predictable and sustainable source of generation like hydropower in the generation mix”. Olivier also added: “The partnership with responsAbility provides us with a capital strong partner, who shares our focus on the responsible development of sustainable hydropower.”

Speaking on behalf of responsAbility, Joseph Nganga, Co-Head of Energy Equity Investments, declared: “We are pleased to team up with this well-established partner in the field of renewable energy generation in Sub-Saharan Africa. This cooperation will allow us to scale up our hydropower development activities at a higher pace, delivering attractive returns to our investors while at the same time ensuring that we add much needed energy capacity on the continent and contribute to the United Nations’ Sustainable Development Goals, particularly in the area of climate action and creating essential infrastructure.”

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