Page 23 - Energize January 2021

NEWS

African Rainbow Energy and Power acquires

stake in SOLA Group

s South Africa transitions its energy PV and 7MWh storage projects, respectively. Having started with only four employees in 2008,
usage to cleaner sources, there is a SOLA now employs over 70 people on a permanent basis, with additional employment of
Adire need for new energy generation between 30 and 100 staff during the construction of projects.
solutions, collaboration, technology and “Our company is greatly strengthened through this partnership”, said Dom Wills, CEO of the
investment into renewable energy. A critical SOLA Group. “There is very good strategic fit between SOLA and AREP, and the investment
component of this will be to address the comes at the perfect time for a 100% South African­owned private utility to step up and play a
challenges of energy security and job meaningful role in tackling our electricity challenges.”
creation in the country. The transaction comes at a time where the lack of energy security and price uncertainty are
Understanding this tremendous limiting economic growth. Renewable energy, and particularly solar PV, has seen huge gains in
challenge and opportunity in investing in efficiency, cost effectiveness and speed of deployment, ultimately providing sustainable
the renewables sector, African Rainbow solutions to help bolster the country’s energy supply.
Energy and Power (AREP) has expanded its Many large energy users are opting to procure power privately. Solar PV has the ability to
investment in this sector with the make extra power available faster than other options, including coal and nuclear. For these
acquisition of a strategic stake in the SOLA reasons, solar PV is predicted to be the most installed power generation technology over the
Group. The companies joined forces at the next 30 years.
end of 2020, with AREP acquiring a 40% “South Africans need the cheapest power available from a variety of competitive sources,
stake and becoming the largest individual which can happen through government or private energy procurement. SOLA’s strategy and
shareholder in the group. The deal also service offering accommodates both models”, adds Wills.
includes a significant investment into the The transaction will also see two AREP Directors joining SOLA’s board. “We are excited to
group to fund further expansion. tap into the wealth of experience that AREP bring to our company. For our young company, this
“The transaction with SOLA allows us to is as valuable as the financial investment will be”, Wills explains.
benefit from the utilisation of modern SOLA recently announced a landmark deal with Amazon, in the first ever solar PV
technology to provide affordable electricity, wheeling project in South Africa. The group will provide 10 MW of clean solar power to the
as well as benefit from their expertise in global company from a dedicated solar PV facility constructed 1000km from where the
solar photovoltaics (PV). This also supports power is used. n
our strategic focus on delivering clean
energy for the commercial and industrial Contact SOLA Group, Tel 021 421-9764, info@sola.africa
sectors”, said Brian Dames, CEO of AREP.
“AREP and SOLA share a vision of using
the latest, cleanest technology available to
deliver excellent climate and business
returns ­ both for our clients and
shareholders”, added Dames.
AREP is an African based energy
company focused on clean energy solutions,
with a portfolio of 740MW of renewable
investments (including wind, solar PV and
biomass) providing affordable energy
through the utilisation of modern and
renewable energy technologies.
The SOLA Group has been active in the
government market, as well as in the private
sector, having been awarded 245MW
REIPPPP projects, 78MW commercial solar

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