Econet Partners RBH On Mega Solar Development Deal
Econet has partnered with the Royal Bafokeng Holdings (RBH), an African community investment company, on a mega solar development deal that is premised at boosting solar power generation in some African countries.
RBH will invest up to US$20 million through Distributed Power Africa (DPA), Econet’s solar energy subsidiary in a deal that is expected to develop up to 175MW of solar energy assets in selected African countries.
The selected countries are South Africa, Kenya, the Democratic Republic of the Congo (DRC), and Zambia. A joint statement by RBH and DPA read in part:
The partnership comes at an opportune time when the South African Government is encouraging investment in renewable energy and will accelerate the much-needed 6.8GW energy capacity, as outlined in the Integrated Resource Plan of 2019.
Commenting on the deal, DPA Africa chief executive officer, Mr Norman Moyo, and his RBH counterpart, Albertina Kekana expressed optimism on the deal which they described as an opportunity to enhance energy as a key enabler for the growth of sustainable data centres.
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The development comes when Zimbabwe like the rest of the Southern African region have acute power issues that have been clearly pronounced in the past two years.
Zimbabwe encourages the adoption of solar energy and other clean power as an alternative to electricity and also as a strategy to lessen pressure on the national grid.
Power outages have worsened the deteriorating state of affairs in many African countries and particularly so in Zimbabwe where the issue has been severe.
More: Chronicle
