Reatile Group completes Phase 2 investment in juwi South Africa
juwi Renewable Energies has concluded a second investment transaction with Reatile Renewables, with Reatile now owning a 43% equity stake in juwi’s solar photovoltaics (PV) Operations and Maintenance (O&M) business.
The agreement follows the conclusion of a previous deal between juwi and Reatile earlier this year, in which Reatile took up a 20% shareholding in one of juwi’s solar PV engineering, procurement and construction (EPC) companies.
Reatile Group chairperson Simphiwe Mehlomakulu says the deal deepens Reatile’s investment and involvement in the renewable energy sector in South Africa and makes for a very attractive service offering in the O&M sector.
“Through the O&M transaction, we intend to operate and maintain projects, not only for juwi, but also for other players in the market place,” he says.
Reatile has taken a considerable equity stake in juwi O&M, which, together with an existing 8% community stake, results in juwi O&M being a 51% black-owned company, he points out.
“The new structure represents all the aspects of the social compact in South Africa, as well as the competitive pricing and technology advances that juwi is already known for. We believe this will be a very attractive proposition for existing and potential clients operating in the renewable space,” says Mehlomakulu.
juwi MD Greg Austin says the deal bodes well for future growth in the renewables sector.
“We are pleased that Reatile has taken up a substantial stake in our O&M subsidiary which, during 2020, will increase its South African market share significantly,” he says.
“O&M of renewable energy assets is a critical component of ensuring reliable delivery of clean energy and remains a powerful avenue for sustainable job creation in often remote areas. This investment and the earlier EPC deal sets the stage for a deeper relationship with Reatile, in terms of their participation in our projects in South Africa and elsewhere on the continent.”
Comments
Projects
Latest Multimedia
Showroom
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
