Red Rocket of South Africa hires Goldman to explore sale option
Red Rocket, a South African independent power provider, hired Goldman Sachs Group to advise on the next steps for the closely held business – including a possible sale.
Shareholders of the Cape Town-based company “have decided to explore strategic options,” for the business, CEO Matteo Brambilla said by email.
Red Rocket, whose backers include French infrastructure and energy investor STOA and Netherlands lender FMO, has invested an estimated $1-billion in renewable-energy projects across Africa, according to the company’s website. The group raised $160-million from investors last year, and is currently constructing another 750 MW of projects to add to the portfolio.
The firm is one of a string of independent South African electricity providers to have sprung up in recent years, looking to exploit a gap in the market left by State-owned Eskom Holdings, which has long struggled both financially and to keep the lights on. Further deregulation of the country’s power sector is expected to help them grow in stature, especially as more people look for better options than relying on the government-owned group.
Comments
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