Solar energy company Grid Africa secured a R50 million equity investment from independent power producer Rifuwo Energy Partners. The funding will help Grid Africa expand its renewable energy initiatives to reduce energy costs for business consumers in South Africa.
In addition to projects in South Africa, the funding will support projects across the southern African region, including Zimbabwe and Zambia. The company also has a portfolio of assets in Ivory Coast and Kenya.
“With decreasing costs in solar technology and lithium batteries, we can further enhance energy efficiencies and enable peak saving for our clients, where they can avoid peak charges on the electrical grid,” stated Norman Moyo, CEO of Grid Africa.
Hope Tshepo Segone, CEO of Rifuwo Energy Partners, said the investment supports the company’s commitment to driving a just energy transition across Africa.
