Revego Africa Energy Fund is charting new territory in sustainable investing

Revego Africa Energy Limited (Revego) is proud to announce its latest venture – a 150MW Solar PV plant located in the Free State in South Africa. The plant is not only Revego’s first greenfield investment; it will be a cornerstone in delivering clean, cost-effective energy to South Africa’s commercial and industrial sectors.

This groundbreaking Solar PV plant will be the first utility scale plant to sell power to multiple off-takers across South Africa, ensuring commercial and industrial clients can achieve energy cost reductions whilst meeting their sustainability targets. Three multinational companies have already signed long-term power purchase agreements, including Sibanye Stillwater and South African Breweries. The SOLA Group, a leading independent power producer and project sponsor, will begin marketing the uncontracted power from mid-2024, with delivery of clean energy expected from mid-2025.

Revego currently manages a diverse portfolio of nine operating renewable energy assets, including solar and wind projects, with a total installed capacity of over 650MW. Revego targets an annual dividend yield of CPI plus 5% - 7%, with potential for enhanced returns through CPI-linked revenues and increased generation capacity with the potential of capital growth. Revego boasts a strong dividend and total return track-record, reflected by an annualised total shareholder return of over 15%.

Ziyaad Sarang, Chief Investment Officer of Revego Fund Managers states: “Our investment in this facility is a definitive move towards a sustainable, low-carbon economy, enabling cost-effective clean energy access at an unprecedented scale. We firmly believe that innovative transactions of this nature will catalyse further investment in the private power market, and we welcome potential institutional investors who share our vision to partner with us on future renewable energy projects."

Revego Fund Managers was previously awarded SuperReturn Africa GP Awards South African Fund Manager of the Year in December 2022, reflecting its commitment to delivering strong returns for its investors. Revego is confident that its investment in this Solar PV plant will continue to build on its track record of strategic investments in the renewable energy sector and its commitment to being one of the leading renewable energy investors in Africa.

About Revego Africa Energy Limited (Revego)

Revego is a yield-focused investment vehicle that participates as an equity investor in, predominately operational renewable energy assets in sub-Saharan Africa with a track record of generating stable cash flows. Revego’s objective is to provide shareholders with long-term stable returns derived from a steady stream of distributions from its portfolio. Revego remains well-placed to make acquisitions and contribute to the development of much needed investment into South African and sub-Saharan African electricity capacity requirements.

Revego Fund Managers (Pty) Ltd. is an authorised Financial Services Provider (FSP number 47561)