Having realised the potential of solar energy, independent investment and advisory firm Bravura aims to implement additional in-house capabilities to further develop and promote energy projects.

“The decision has been made in the wake of a number of successful projects being executed by our associate, solar solutions provider SolarSaver,” says Bravura business development head Ian Matthews.

SolarSaver has been selected to be the renewable-energy partner for some of the largest shopping centres in South Africa, including Sandton City, Eastgate and Melrose Arch, as well as sports venue the Bidvest Wanderers Stadium, all in Gauteng, he says.

The management shareholders of Bravura initially provided seed capital for SolarSaver, alongside additional investment partners .

“Bravura has supported the growth of SolarSaver over several years with significant capital raises,” adds Matthews.

These raises include a R10-million debt instrument, followed by an initial R50-million equity commitment by a Namibian fund and a R765-million commitment by a South African infrastructure fund.

The support has enabled SolarSaver to build and own an 80 MW-plus portfolio of renewable-energy (solar) projects in South Africa, Botswana and Namibia. The projects form part of a diverse and well-represented pool of power-producing and income-generating assets.

“Bravura raised the capital for SolarSaver to be in a position to select and complete projects on this [broad] scale,” he points out.

Not Just One Investment

Bravura does work with other engineering, procurement and construction (EPC) companies that develop solar installations for clients, which often incorporate power purchase agreements (PPAs).

Bravura corporate finance principal Craig Shaw says the smaller companies are often those that install smaller systems of between 300 kVa to 10 MW.

Consequently, Bravura raises funds for these projects and sells power to clients using PPA.

Shaw says Bravura believes that, for investors, this space is a “generational opportunity” as the African continent, as with the rest of world, needs renewable-energy infrastructure to mitigate the impact of energy shortages and climate change.

“We also see this as a sector that offers good returns for investors and numerous opportunities

,” he concludes.